Reward for info on directors of firms running ‘Ponzi’ schemes

CHENNAI: The Tamil Nadu police announced rewards on information on 10 persons, including a woman, who are directors of three companies – LNS International Financial Services, Aarudhra Gold Trading, and Hijau Associates – allegedly running ‘Ponzi’ schemes and had cheating over 1 lakh people after collecting a total of over Rs 9,000 crore promising high rate of interest.

“We have also issued look out notices against the 10 suspects, now absconding,” police said.

In the case of Aarudhra gold trading, the EOW had already arrested 3 persons. In a press release issued on Thursday, the police said that they are on the lookout for V Rajasekhar, of Villivakkam, Hairsh of Kancheepuram, Michael Raj of Virudhanagar and B Narayani from Poombukar Nagar in Chennai.

In the case of LNS International Financial Service, sleuths l arrested 3 persons so far, but are looking for three Vellore based brothers - S Lakshminarayanan, S Vedhanarayanan and S Janarthanan – along with Mohan Babu from Vellore.

With regard to Hijau Associates, the police have arrested one person and are on the look out for one S Alexander and his father M Soundarajan of Perungalathur.

“We will give a decent reward for information about the absconding suspects,” an EOW officer noted.

People can give info on phone number 044-22504311 and 044-22504332