ERODE: The police are looking for a gang, said to be from Chennai, that kidnapped the owner of an online trading institute at Perundurai in Erode district, and allegedly extorted Rs 1 crore. A gang of four who claimed to be police intercepted and kidnapped him near Vaikkal Medu on the main road to Perundurai on the night of February 25.
Police said the kidnapped entrepreneur is K Gautham (28), a resident of Chennimalaipalayam in Perundurai. The crime came to light after Gautham filed a complaint at the Perundurai police station on Saturday.
Gautham was kidnapped as he was returning to Perundurai by car after finishing work at his institute, named, 'The Courage One Ventures', in the Palayapalayam area of Erode. He has been running the institute for the past one-and-a half years for those who want to study online trading of shares online. About 15 people are working under him.
Police suspect the crime was a fallout of an issue with an employee named, A J Manikandan from Maduravoyal, in Chennai who was dismissed on February 20 due to his poor performance. (Manikandan was in charge of recruiting people from Chennai.)
However, the company's money of Rs 8.5 lakh remained in Manikandan's bank account. On February 21, Gautham went to Chennai with his younger brother Mithun, and returned after receiving money.
After kidnapping Gautham on February 25, the gang bundled him into another car near the Vijayamangalam toll gate on the Salem-Cochin NH, and travelled towards Coimbatore and locked him up in a house there.
The next day, the gang threatened Gautham, demanding Rs 1 crore. The gang told Gautham that they had also kidnapped Manikandan and brought him there, too. Then they threatened to kill both of them if Gautham did not give money.
Subsequently, Gautham arranged Rs 1 crore through his younger brother and placed it near a bakery, as per the direction of the gangsters, on the NH near SIPCOT in Perundurai.
The gang then took the money and escaped with Manikandan. Gautham was released near a restaurant on the NH where his car was parked.
The police registered a case on Sunday under BNS sections 126, 127 (2), 140 (1), 309, 351 (3).
"We have doubts about Manikandan in this case. Gautham also expressed his doubts about him. That is why we secured him on Monday. We are questioning him and also looking for others involved," a police officer said.