A group of investors in a private firm in the city submitted petitions to Superintendent of Police A.K.Singh on Thursday stating they were duped by the company after offering them lucrative returns on their investments.

According to the petitioners, about 1,000 customers of the company have been defrauded to the tune of Rs. 100 crore after ‘luring’ them into schemes like insurance and business products with exorbitant returns.

Interestingly, the district police had issued an alert through the media against the same company a year ago asking the public not to fall prey to the attractive schemes offered by the company.

The police had also then stated that the said firm’s promoters from Sivakasi had many cases registered against them in Thirthangal police station in Virudhunagar district for defrauding people.

Police had issued

an alert against the company a year ago