The Srikakulam police has appointed a special team to investigate the financial fraud at Mandarada village near Rajam as many ‘investors’ have not yet come to lodge complaints officially, according to Srikakulam SP C.M. Trivikram Varma.
A stock broker, Tankala Sriram, had confessed that he had collected ₹18 crore from the public to do trading after taking franchise from a stock broking company, Inditrade. However, only a few people came forward to lodge complaints and their total claim was ₹4.5 crore.
Addressing a media conference here, the SP said that the proposed probe headed by a DSP-rank officer would help bring out all the details and alleged discreet investments.
Three cases
“We filed three cases against the accused Sriram and seized his properties in different places of the district. We will arrest him very soon and produce him before the court of law. We have already taken four more persons into our custody to gather more information about the fraud,” he added.’
Meanwhile, 93,000 persons out 1.49 lakh depositors of the Agrigold firm registered their details with the district police department, he said.
