JBJ Company Owners Held in Salem by EOW

Published: 26th September 2014 06:00 AM  |   Last Updated: 26th September 2014 06:00 AM   |  A+A-

CHENNAI: The Economic Offences Wing on Wednesday arrested Justin Devadoss and wife Bella, the main accused in the multi-crore JBJ City Developers fraud that rocked the State in 2009, from a hideout in Salem.

The couple, along with other accused, had cheated nearly ` 39 crore from several people by running ponzi investment schemes. The scam was brought to light in 2009 and the couple was arrested in 2010 by the Bangalore police.

Their properties worth around `60 crore were attached by the Economic Offences Wing that has filed a charge sheet against them in the Tamil Nadu Protection of Interest of Depositors (TNPID) court in Chennai. After filing of the chargesheet, the couple had been let out on bail.  “The trial was pending and they repeatedly failed to appear in the court. Subsequently, the court issued a non-bailable warrant against them. Our team traced them in Salem and arrested them,” said a police officer.

The couple was remanded by the TNPID court for judicial custody till October 7.

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