Staff Reporter

Tirupur: A joint investigation by local police, special branch and central crime branch was launched into the operations of a Forex trading company situated near Pushpa theatre bus stop here. Official sources said that the investigation was following a tip-off received by the police a few days ago regarding the dubious operations of the firm which had collected huge money from investors promising them that the amount would be doubled in few months.

“The company offered schemes to the public like doubling their cash deposit of Rs. 50,000 to Rs. 1 lakh in four months, among other packages,” police officials added.

Superintendent of Police N. Kannan told The Hindu that the probe would focus on how the firm could multiply the cash investments from the public in short period and whether the process was done lawfully.

One of the three directors of the firm, who is also a reporter of a leading Tamil daily in the city, was questioned at the Tirupur North Police Station on Monday and Tuesday.

More In: TAMIL NADU | NATIONAL