They were running a finance company at Pammal
CHENNAI: The Mylapore police on Sunday arrested four persons including a woman on charges of cheating. They were running a finance company at Pammal. Police suspect the accused had duped depositors over Rs.50 lakhs, not just in the city but in other parts of the State as well.
Following a complaint lodged by Kalpana, a homemaker from Mylapore, police investigated the matter and arrested Ravichandran (32) of Tiruchi, his wife Anuradha (28), their business partner Mohammed Ali Jinnah (35) and Mustafa (31), the trio’s business agent.
Police said Anuradha and Jinnah came to Chennai two years ago and started a finance company at Pammal. The duo targeted people by promising a monthly incentive of Rs.7,000 over a one-time deposit of Rs.20,000 with their company.
Taking the scheme for real many had deposited their money and had received the promised monthly payment for a few months.
Meanwhile Anuradha’s husband Ravichandran, who is suspected to have initially started a similar fraudulent deal in their hometown Tiruchi, had come to Chennai to accompany his wife and her business partner Jinnah. The trio, with the help of their agent Mustafa, continued their dealings.
According to Isaac Paulraj, Assistant Commissioner of Police (Mylapore), complainant Kalpana had paid the money and received some payments initially and thereafter enrolled some of her relatives in the scheme. “When the monthly payments for her and her relatives stopped coming, she realised that they have been cheated and later filed a complaint,” said Mr. Paulraj. The arrested four were produced in a city court and were sent to the Puzhal prison.