Commodity trading agent ends life

Published: 20th December 2012 11:47 AM  |   Last Updated: 20th December 2012 11:47 AM   |  A+A-

An agent of a now defunct online commodity trading firm committed suicide at Nambiyur late on Tuesday after many depositors picketed his house demanding their money.

Anandan (29) from Vemandampalayam in Nambiyur, was an agent with Coimbatore-based Fine Future India Pvt Ltd, which collected several crores in deposits from people by giving false assurances of paying `8500 as monthly interest for a deposit of `1 lakh. In Sathy and Gobi taluks alone, over `500 crore was said to be deposited in the firm through many agents.

While the firm initially made interest payments to its depositors, it stopped giving any incentives over the past several months. Consequently, many depositors lodged police complaints in Erode and Coimbatore and also picketed the houses of the firm’s agents.

Anandan, who was a bachelor, consumed pesticide. He was rushed to the Gobi GH, where he died.


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