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Chennai

Stocks scam: Two arrested for cheating people of Rs 5 crore

The Central Crime Branch arrested two persons near Chengalpattu for allegedly cheating people of Rs 5 crore on the pretext of investing it in share market.

Express News Service

CHENNAI: The Central Crime Branch arrested two persons near Chengalpattu for allegedly cheating people of Rs 5 crore on the pretext of investing it in share market. The issue came to light when one of the victims complained to the Tambaram police commissioner. The arrested were identified as Kamakshi and Vigneshwaran.

According to the complaint lodged by the victim Sivasankari, Kamakshi, her husband Karthikeyan, her brother-in-law Bathrakali Muthu, and her in-laws lived opposite her house in Maraimalai Nagar. The family along with their friends, Vigneshwaran and wife Yuvaneshwari, convinced Sivsankari to invest in the share market through them.

The woman gave them Rs 16.5 lakh in three instalments. Initially, the family gave her Rs 50,000 as profit to make her believe them. They later fled. A subsequent probe showed that they had cheated others also.

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