CHENNAI : Tiruvallur police have arrested two persons and launched a hunt for another, who employed them, in connection with allegedly cheating more than 1,000 people to the tune of over Rs 3 crore after promising them loans. Police said Ganesh had established SEB microfinance at Kakkalur village two months ago and promised loans of more than Rs 3 lakh. He closed the firm and was stated to be absconding from Monday and victims staged a protest the next day.
Tiruvallur Taluk police registered a case and arrested two persons who were working as assistant managers in the firm. They were identified as Siva Prakash (34) and Anthony (32). Speaking to Express, a senior police officer said that people who had come to complain told him that there was no way they could doubt the integrity of the firm since it was well run and everything was systematic.
“Everyday, hundreds of people are being cheated by such fake companies and it will be better for the public not to trust companies. They could approach banks for loans,” he said.