3 senior women executives of 'Nidhi' arrested by EOW

CHENNAI: Three senior executives of the 'Paraspara Sahaya Nidhi (Perambur) Ltd’ were arrested by the sleuths from EOW for allegedly cheating the members of public after collecting investment promising high rate of returns.

The arrested are Vasanthi Easwarappan, proprietor and managing director, Rajam Kannan, director and Shakti Aishwarya, daughter of Easwarappan.

After collecting the deposits, the company failed to repay the interest as well as the principal amount. On 16 April this year, Economic Offenses Wing, Chennai, registered a case against the company all the accused. So far, complaints have been received from about 430 investors stating that they have been defrauded of several crores of rupees.

In connection with this case, raids were conducted at Perambur, Purasaivakkam and Choolaimedu, in the houses of the accused involved. A cell phone, computer and gold jewelery have been seized. Further investigation in this case is underway.