The district police arrested two persons in connection with iridium fraud on Friday.
According to the police, K. Raji (53) of Sakkarai Chettipatti approached V. Radhakrishnan (46) of Kamalapuram in 2020 and claimed he was doing iridium business and would double the amount if he invested in his business. Radhakrishnan gave ₹20 lakh in two instalments and Raji did not return the amount.
Likewise, P. Vilvendiran (54) of Thathiyampatti approached G. Rajan (50) of Vattakadu in Omalur and promised to double his money in the iridium business and sales of ambergris and precious stones. Believing this, Rajan invested ₹25,000 and his friends also gave him money. But he did not get his money back.
The Omalur police registered cases and arrested Raji and Vilvendiran. The police seized two idols, deer horns, ‘ambergris’, and stones from them.
Speaking to reporters on Friday, District Superintendent of Police M. Sree Abhinav said they got information that four more persons lost their money to the accused persons and were gathering their details. He asked people to come up and lodge complaints so that their money could be recovered and the culprits arrested.
He said the ‘ambergris’, idols, and the stones would be sent for test to confirm whether they were original or not. “We are also monitoring another gang involved in this type of fraud in Salem, Dharmapuri, Krishnagiri, and Bengaluru,” Mr. Sree Abhinav added.
