Women executives of financial firm arrested in Chennai

CHENNAI: Economic Offence wing sleuths of the TN police had arrested 3 woman executives of Hijau Associates in connection with collection of Rs 235 crore from 2,835 depositors promising high returns.

The EOW had already arrested 3 persons earlier.

The arrested accused are Shanthi Balamurugan of Thiruverkadu, Kalyani Chandrasekar of Virugambakkam and Sujatha Balaji from Anna Nagar.

Earlier, the sleuths had arrested D Nehru of Periyar Nagar, G Gurumanikandan, from Kodambakkam and Mohamed Sherif, of Zamin Pallavaram, Chennai.

The EOW had registered the case in November 2022 against Hijau Associates Private Limited, Chennai, and its directors and some others as it was found that the company had collected money as deposits from the general public with the false promise of 15% of monthly interest as returns for the deposits.

But, the company had failed to repay the monthly interest as well as the principal amount to its depositors. So far, about 10,000 depositors had lodged their complaints of fraud to the tune of Rs 800 crore against Hijau and its associates companies such as SG Agro Products, Aruvi Agro Products, Sai Lakshmi Enterprises, Ram Agro products and RMK Bros products.

All the accused on behalf of HIJAU company have collected money from depositors which has not been returned and booked for complicit in the fraud.