CHENNAI: The main accused in the Rs 2,438-crore Aarudhra Gold deposit scam, who has been on the run for two years, was detained by Interpol in Abu Dhabi on Thursday. The officers of the Economic Offences Wing (EOW) of Tamil Nadu police are flying to Abu Dhabi, and the accused, V Rajasekar, managing director of Aarudhra Gold, will be brought to Chennai after completing legal procedures.
Another accused, Usha Rajasekar, his wife, is still at large according to preliminary reports. The Interpol acted based on a Red Corner Notice issued by TN police in April this year. According to police estimates, from September 2020 to May 2022, more than one lakh depositors were cheated of `2,438 crore by Aarudhra Gold Trading, which was operating from its headquarters in Aminjikarai in Chennai.
It drew investors with promises of providing mouth-watering interest rates ranging from 25% to 30% monthly. The company failed to deliver the pledged returns and subsequently, stopped paying back the principal amount as well.
Between January and mid-May, the EOW registered 19 fresh cases and arrested as many as 49 suspects for defrauding nearly Rs 350 crore. Another 10 were arrested in 2022. The EOW has registered the cases under the provisions of the Indian Penal Code for cheating and criminal breach of trust.