Man cheats 250 people of Rs 2.5 cr promising high returns, arrested

The accused, G Arunagiri of Ekkaduthangal, was running a firm called Shine Market Solutions and asked the victims to deposit Rs 1 lakh to get Rs 10,000 as interest every month. While as many as 250 people deposited money to his account, he is said to have not fulfilled his promise.

After some of the victims lodged a complaint against him with the Economic Offences Wing, he allegedly promised to return the money to 40 of them and asked them to come to Saidapet court premises on Wednesday.

However, he reportedly showed only some documents and tried to convince them. Agitated investors then started attacking him on the court premises and the Kotturpuram police, on information, reached the spot.

Later, the complainants were sent to the Guindy police station to lodge a petition. The Guindy police registered a case and remanded Arunagiri in judicial custody.

The Taramani police arrested a 27-year-old man on the charges of cheating to the tune of Rs 1.23 lakh.

The accused, P Rakeshkumar of Velachery, allegedly received the sum from one G Ranjithkumar (26) of West Mambalam on the promise of getting admission to the latter’s brother at a private college in Velachery.

While Rakeshkumar did not fulfil his promise, he allegedly threatened Ranjithkumar and verbally abused when the victim demanded his money back.

Based on his complaint, the Taramani police registered a case and arrested Rakeshkumar after investigation. He was remanded.