Virudhunagar
Crime Branch-Criminal Investigation Department has arrested the seventh accused in a ₹4-crore chit fund scam reported in Rajapalayam between 2012 and 2013.
The sleuths arrested Mahendra Jain in Virudhunagar. The case pertains to luring gullible people by Best Plus Real Estate Private Limited to make deposits of ₹one lakh that would fetch double the investment in 10 months and 20 months.
The company that started the schemes in 2012 led to complaints even in 2013. The Rajapalayam north police had registered a case and arrested one accused. However, the remaining 12 accused could not be nabbed.
Meanwhile, the case was transferred to the CB-CID by the High Court in 2015. The CB-CID has so far arrested five persons.
