Special teams of the Coimbatore City Police, probing the case of missing jeweller brothers, secured Ashok Kumar (38) on Wednesday. After preliminary inquiries, he was remanded in judicial custody.
It may be recalled that Balaji (41) and Ashok Kumar (38), who ran a chain of jewellery shops in the city at various places in Oppanakkara Street, Bazaar Street and Gandhipuram went missing during the first week of June.
Complaints poured in stating that the two had taken loans from banks, gold from merchants besides defrauding people who had invested in monthly gold chit scheme.
The police had put the value of the scam at nearly Rs. 150 crore with complaints from over 920 people, including nearly half-a-dozen gold merchants, two bankers and several investors.
The hunt for the brothers continued for the last three months and the two had even filed an insolvency petition before a court.
Recently, the elder brother Balaji surrendered before a court in Tambaram and was lodged at the Puzhal Central Prison.