The Central Crime Branch (CCB) of the Greater Chennai Police on Tuesday arrested two persons who, along with three others, had cheated several investors of more than ₹4.80 crore. The CCB has formed special teams to nab the remaining three persons who were reported to be absconding.
The police said a complaint was filed by a group of investors with Commissioner of Police Shankar Jiwal that a company named Goleacha had sought investments in a dairy company with a promise of big profits. The promoters collected ₹5.74 crore from the investors but failed to return the money.
Mr. Jiwal directed the Entrustment Document Fraud (EDF) of the CCB to take up investigation in to the complaint. During the inquiry, the police found the dairy company proprietors S. Sundararajan, S. Mageshkumar, Mahalakshmi, Karthikeyan and Muthukumar to have defrauded the investors.
The CCB team arrested Sundaarajan and Mageshkumar as the other three were reported to be absconding. The two were produced before a judicial magistrate and sent to prison.
Published - March 01, 2023 08:54 pm IST
