Nation Crime 23 Feb 2018 Currency doubling ra ...

Currency doubling racket: Six arrested in Coimbatore

DECCAN CHRONICLE.
Published Feb 23, 2018, 2:29 am IST
Updated Feb 23, 2018, 7:23 am IST
Smelling a rat at that point, Sharmi and her husband lodged a complaint with the Coimbatore city police commissioner, Sri. K. Periaiah.
The accused had till now cheated  several people by promising them to return double the money that they invested in Russia imported rice pulling Iridium vessel.
 The accused had till now cheated several people by promising them to return double the money that they invested in Russia imported rice pulling Iridium vessel.

COIMBATORE: The city police arrested a group of six persons including a couple for allegedly cheating many people to the tune of `50 lakh in different cases by promising to return double the sum that they invested in ‘rice pulling Iridium vessel’.

Police said, Sharmi, 35, a resident of Avaramplayam in Coimbatore, owns a beauty parlor in Erode district and one of her customers, Poongodi, 38, beca
me a close friend of Sharmi and claimed that she could arrange rupees `1 lakh through self-help group loan amounts if Sharmi deposited just `10,000. 

 

Poongodi, according to police, also told her that she had to pay `1.20 crore to the bank for transferring `40,000 crore from Russia, reportedly for supplying ‘Rice pulling Iridium’. She promised Sharmi half the amount if she helped to pay up the initial sum to the bank. 

Police said Sharmi agreed and had paid `3 lakh recently as initial payment. Within few days Poongodi had introduced five men including her husband Mohan Kumar, 45, Satheesh Kumar, 27, from Chennai, Murugan, 39, Deva kumar, 48, from Vellore, and one Kuppan Raj, 43, from Tiruvallur, claiming them as Iridium traders. Poongodi had then demanded Sharmi to pay `65 lakh.

 

Smelling a rat at that point, Sharmi and her husband lodged a complaint with the Coimbatore city police commissioner, Sri. K. Periaiah.

Acting on their complaint, city police arrested the group members and seized two cars. They were produced before a local court and remanded to judicial custody. Police suspect this group might have cheated more people in this way.

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