Madurai

HC seeks report in financial fraud case

Madurai

The Madurai Bench of the Madras High Court on Wednesday sought details from the State on the total extent of the financial fraud committed by the ‘Helicopter Brothers’ M.R.Ganesh and M.R.Swaminathan of Kumbakonam in Thanjavur district.

Taking a serious view of the offence, Justice B. Pugalendhi sought a report from the State. The judge sought to know the properties owned by the main accused in the case and the steps taken to attach them. The judge also sought details on the foreign investments made.

The court was hearing two connected bail petitions filed by Akilandam, wife of M.R.Ganesh and S.Venkatesan, a priest. Both the accused said that they were innocent and had played no role in the financial fraud committed by the two brothers.

The State submitted that several complaints were lodged against the main accused and the steps were being taken to hand over the probe in the case to the Economic Offences Wing (EOW). The two brothers are accused of cheating the residents of Kumbakonam of several crores of rupees

The brothers had claimed that they were into diversified businesses that induced helicopter service, dairy farms, gold investments and financial companies. They cheated the investors of several crores and were arrested based on the complaint lodged by the investors. The accused are remanded in judicial custody.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Oct 16, 2021 9:17:06 AM | https://www.thehindu.com/news/cities/Madurai/hc-seeks-report-in-financial-fraud-case/article36366215.ece

Next Story