Rs.50 Crore online fraud, youths on run
June 10, 2010 04:15 PM
Rs.50 Crore online fraud was reported to the Perambalur police on Tuesday.
Karthik, 35, Sivakumar, 35, and Vaaleeswaran, 31, made online
advertisement calling for deposits in favour Future Forex India Private
India. The fraudsters wooed depositors promising a lucrative 15 percent
monthly interest and fixed deposit bonds for the amount deposited. The
fraud came to light when 30 persons filed complaints with the Perambalur
SP on Tuesday. Tempted by the offer, thousands of people throughout the
country including Chhattisgarh, Maharashtra, Uttar Pradesh and Madhya
Pradesh deposited amounts to the tune of about Rs 50 crore.
The three fraudsters ran a network of the business by setting up branches
across a few districts in TN such as, Tiruchy, Perambalur and Karur apart
from Chennai, in the name of KSV Real Estate. They had even rented out a
house at Muthu Nagar in Perambalur. “Interest amount as cheques had also
been issued to the depositors in order to gain their confidence''. The
cheques were honoured for the first six months but later the cheques
started to bounce as there was no money in the bank” said a depositor.
When Karthik was contacted over phone, he pacified the angry depositors
assuring them that things would be set right. Later, the three fraudsters
went out of touch, switched off their mobiles and could not be reached.
Following this, about 30 investors from Chhattisgarh, Maharashtra and
Madhya Pradesh who grew suspicious came down to Perambalur and lodged a
written complaint with the Perambalur SP, Mr Kaliraj Maheshkumar.
After making a initial probe the SP ordered to register the case against
the trio. “The crime branch is investigating the case,”. “The fraudsters
who are now on the run will be arrested very soon. As the depositors
belonged to different states the case will be transferred to a special
police wing as depositors belong to various states” said a reliable