Complaints from over 5,000 people received indicated that the cheating could be to tune of Rs 250 crore
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Chennai: Sleuths from the Economics Offences Wing (EOW) on Friday arrested four employees, including two directors, of a finance firm for allegedly cheating people to the tune of Rs 250 crore in the city.
Complaints from over 5,000 people received indicated that the cheating could be to tune of Rs 250 crore. But the police say it could be run up to at least Rs 1,000 crore if all the victims lodge their complaints.
Those arrested were employees of Viswapriya Financial Services and Securities Limited based at Adyar, Chennai for the last one decade. They were identified as Balasubramani, 55, Ganesan, 45, Augustine, 48, and Ram Mohan, 52.
Ganesan and Ram Mohan were directors of the financial firm run by R. Subramani, owner of Subiksha chain of supermarket. Subramani has gone underground since his petition was dismissed by the court two days ago. Ganesan, a vocalist, left from the company five years ago. EOW police registered case against Subramani and others for cheating people accepting deposits from them.
Inquiries revealed that Subramani had been running more than two scores of financial institutions. The police team swung into action after Madras high court dismissed Subramani’s petition, who had sought the court refraining him from apprehension in the cheating case
Subramani, who came to his office in Chinna Neelankarai on August 6, is missing since then. Police team raided his house and seized four cars, including an Audi vehicle, worth Rs 1.5 crore.
( Source : deccan chronicle )
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