MADURAI: Three more people were arrested on Sunday in connection with the alleged FQL investment scam in Melur, taking the total number of arrests in the case to around 18. Police have received nearly 34,000 complaints from investors who allegedly lost money through the platform.
Police sources said the District Crime Branch (DCB) is close to apprehending the alleged key accused in the scam. The identities of the three persons arrested were not disclosed.
A special police camp was held in Melur for three days to receive complaints from victims. Around 7,000 complaints were submitted on Sunday alone, taking the total number of complaints to nearly 34,000, police said.
The alleged cryptocurrency-based investment fraud was operated through the FQL app and is suspected to have affected hundreds of investors in Melur and surrounding areas of Madurai district. Similar complaints have also been reported from Natham and neighbouring areas of Dindigul district.
According to police, the app had been operational for around 1.5 years before becoming inaccessible about three months ago. Following this, investors began approaching the police, prompting the DCB to launch a detailed investigation. Further probe is underway.