Tamilaga Vettri Kazhagam Functionary Arrested in Pudukkottai for ₹25 Crore Fraud
TVK functionary arrested in Pudukkottai over Rs 25 crore fraud
Asianet Newsable
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Saravanan, a functionary of the Tamilaga Vettri Kazhagam party in Pudukkottai, Tamil Nadu, has been arrested for allegedly defrauding over 100 people of ₹25 crore (approximately $3 million USD) by promising high returns on investments. Victims reported him missing, prompting police action and public unrest following his arrest.
- 01Saravanan allegedly collected ₹25 crore from over 100 individuals under false pretenses.
- 02He promised high returns on investments, citing personal reasons to solicit funds.
- 03Victims were unable to contact him for 15 days, leading to complaints to the police.
- 04His arrest sparked tension among victims at the police station, with demands for direct action.
- 05Authorities assured victims that efforts would be made to recover their investments.
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In Pudukkottai, Tamil Nadu, Saravanan, a member of the Tamilaga Vettri Kazhagam party, was arrested by the District Crime Branch police for allegedly defrauding over 100 individuals out of ₹25 crore (approximately $3 million USD) by promising high returns on investments. The accused reportedly borrowed money from various individuals, claiming personal hardships, and failed to repay the amounts. Victims had not been able to contact him for 15 days, prompting them to file complaints with the local police. Following these complaints, police initiated a search operation that led to Saravanan's arrest in another state. His arrest incited unrest among victims, who gathered at the District Superintendent of Police's office, demanding justice. Police reassured them that a case had been registered and that efforts would be made to recover their money.
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The arrest has raised concerns among local investors about the safety of their investments and the potential for similar scams in the future.
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