A police officer claimed, “They had collected at least Rs 20 lakh from each investment and had money from 25 people.
Father-son duo detained for defrauding investors in Chennai
CHENNAI: A father-son team was detained by the Central Crime Branch of the city police. In fact, They are on suspicion of Defrauding investors of Rs 4.8 crore by making false claims. By the way, They made false promises that they would share the profits from animal farms they had established. The arrested individuals were revealed to be Kolathur residents S Sundarrajan (67) and his son S Magesh Kumar (40). Moreover, They were operating a milk vending operation, according to the police.
According to police investigations, the accused and their partners had promised investors higher returns on their investments while luring a number of investors from all over the city by saying they intended to buy high-quality milk-producing cows from Gujarat and establish livestock farms in the city’s outskirts. Meanwhile, A police officer claimed, “They had collected at least Rs 20 lakh from each investment and had money from 25 people. Finally, their books to indicate lower sales, for which a Defrauding complaint was made that after receiving funds totaling Rs 4.8 crore, the pair made alterations. The father-son team was detained by the CCB’s EDF (Entrustment Document Fraud) division after an investigation. They were brought in front of the magistrate and kept in jail.
Popular News:
- The NGT has been informed by NHAI that it may consider realigning the ECR road extension work at Odaiyur near Kuvathur.
- BA LLB program: Students with a 3-year diploma or polytechnic after Xth are eligible for admission at TNDALU: Madras High Court.
- “How to Stay Safe Online?” Cybercrime campaign by the IT ministry
