DMK man among 3 arrested for fake iridium deal in Kovai

The complainant, Saminathan (50), a cattle trader from Senthilpalayam near Somanur in Coimbatore, gave Rs 5 lakh in advance to the conmen to buy iridium. However, he then realised the fraud and tipped off the police resulting in the arrest of three persons identified as Dhanabalan (30), Arumugam (38) and Raja (43), all hailing from Kumarasamy Nagar in Tirupur district.

The police said Saminathan’s friend Dhanabalan had introduced his two other accomplices claiming that they are in possession of iridium. He wooed them by saying that it has medicinal properties that could cure diseases and would bring fortune if placed in the house.

Trusting him, Saminathan agreed to buy and struck a deal for Rs 25 lakh. “He initially gave Rs 5 lakh and agreed to give the remaining amount on receiving the iridium from them,” the police said.