Online trading fraud: Police receive more complaints against accused

The District Crime Branch (DCB) of Coimbatore rural police has received more complaints against Palani native J. Jegadeesh (37), who was arrested on Wednesday for duping eight persons of ₹ 2.60 crore.

DCB received complaints from two persons on Thursday which the accused cheated them of over ₹ 1 crore on pretext of doing online trading.

Officials also received calls from people in Chennai, Madurai and other places in Tamil Nadu who were allegedly cheated by Jegadeesh.

“One of the complainant who came to meet us on Thursday said that several employees of a company in Coimbatore where Jegadeesh worked earlier had also invested around ₹ 4.5 core for online trading. We expect to get more complaints in the coming days,” said a DCB official.

Jegadeesh, originally hailing from Anna Nagar on Railway Feeder Road at Palani, was arrested based on a complaint given by R. Sivakumar, a resident of Nanjundapuram near Kallipalayam at Sarcarsamakulam, to Coimbatore Rural Superintendent of Police Ara. Arularasu.

DCB Deputy Superintendent of Police Sekar and inspector Yamuna Devi formed a special team to arrest Jegadeesh.

As per the First Information Report registered by the DCB on Mr. Sivakumar’s complaint, Jegadeesh duped him of ₹ 35 lakh which he gave him in October 2018. The accused had allegedly promised Mr. Ravikumar of doubling the amount in seven months and returning it.

Mr. Ravikumar also introduced seven of his friends to Jegadeesh. They invested a total amount of ₹ 2.25 crore with Jegadeesh, said the FIR.

As the money was not returned as promised, Mr. Ravikumar personally checked the whereabouts of Jegadeesh. He found a person from Palani and another person from Madurai who accused Jegadeesh of cheating them.

According to the police, Jegadeesh was at large for about a year and a case was registered by the Thiruthani police in Thiruvallur district based on a complaint lodged by his father which said that his son was missing with his family.

The special team of the DCB headed by sub-inspector Lenin Appadurai arrested Jegadeesh from Nagercoil on Wednesday. He was produced before the sixth judicial magistrate court and remanded in judicial custody.

DCB officials said that the total amount defrauded by the accused might run into several crores as he had investors from several districts.

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Printable version | Mar 7, 2021 9:04:38 PM |

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