COIMBATORE: A couple was arrested for allegedly defrauding a businessman of Rs 1.46 crore, on Saturday. The businessman, in his complaint, had claimed that three individuals had approached him to invest in their business and cheated him.
The City Crime Branch - 1 has registered a case under relevant sections of the BNS, and launched a detailed investigation. A couple who cheated the business was arrested by the police.
R. Sivaraman (23), who runs Vinayaga Enterprises and Siva Associates in RS Puram, stated in his complaint that Sivakumar, a pharmacy owner from Kotagiri, his wife Dharanya and brother-in-law Harish approached him with a business proposal. The trio claimed to run 'Sivakami Floritech India,' a flower cultivation and export company based in the Nilgiris, and requested his investment to expand their operations.
Trusting them, Sivaraman transferred Rs 1.01 crore in October 2024 and an additional Rs 45 lakh in November 2024. He was promised returns and profits within five months. However, when no repayment was made, and repeated follow-ups were ignored, Sivaraman suspected foul play.
Further inquiries revealed that the same group had allegedly taken money from several others across Coimbatore, defrauding them of a total of over Rs 3 crore. Sivaraman alleged that when he confronted the accused in December last year, he was threatened with physical harm, and warned not to pursue the matter legally.
Acting on his complaint, an FIR was registered on April 17, 2025and the investigation was handed over to Inspector A Masoodha Begum of the City Crime Branch (CCB).
While Sivakumar and his wife Dharnya were arrested by the police on Saturday, Harish is absconding. As many as nine vehicles, including luxury cars, a mini truck and a two-wheeler were seized from them. The police suspect that the couple may have grabbed around 850 acres of land across the state by cheating.
On Monday, the police raided their properties in Coimbatore and Nilgiris. Police officials said further inquiries are under way, and efforts are being made to trace additional victims and recover the funds.