Three arrested in Rs 3 crore iridium scam, released on bail

Two special teams were formed to nab Ferozhkhan, his wife Saliyabeevi and his friend Ashrafkhan.
Image used for representational purposes only
Image used for representational purposes only (Express Illustrations | Amit Bandre)

COIMBATORE: Kuniyamuthur police on Monday arrested three persons in connection with a case of cheating a businessman of more than Rs 3 crores. Later, they were released on conditional bail.

The arrested persons were identified as V Pon Muruganandam (56) from Arumuganeri in Thoothukudi district, Balaji (35) from Kalakkad in Tirunelveli district and S Rajanarayanan (48) from Old Chettikulam in Tirunelveli district.

Police said, M Sirajudin (44) from Wayanad in Kerala, has been running a construction company in Qatar since 2008. Nissar from Kannur in Kerala befriended Sirajudin and proposed a business plan of investing in the iridium sales business, promising 100% profit. He further said his friends Ferozhkhan (43) from Kuniyamuthur in Coimbatore and Ashrafkhan from Kerala were having iridium.

Believing their words, Sirajudin paid Rs 1.50 crore in cash to Ferozhkhan and Ashrafkhan on August 29, 2013. Later, Ferozhkhan and his accomplices received an overall of Rs 3.92 crores from Sirajudin from August 2013 to June 03, 2024, in multiple instalments. Not only did Ferozhkhan not get any profit from Sirajudin, but he was threatened with dire consequences when asked.

Based on a complaint from Sirajudin, Kuniyamuthur police registered a case against Ferozhkhan and his accomplices under sections 406, 420 and 506 (ii) of IPC.

The police issued a summons to Ferozhkhan to appear before them last week. As he failed to appear, police checked his call details, following which they came to know that he often spoke with Pon Murugan over the phone. The officials intercepted a car at a toll plaza near Ulundurpet and arrested Pon Muruganandam and two others who were sitting next to Ferozhkhan. However, Ferozhkhan escaped the police. The police seized a multi-purpose vehicle (MPV) and Rs 20 lakh cash from them.

Two special teams were formed to nab Ferozhkhan, his wife Saliyabeevi and his friend Ashrafkhan.

Preliminary inquiry revealed that a notorious rowdy Rocket Raja was a close friend of Ferozhkhan and he also threatened Sirajuddin over the phone. The police also registered a case against Rocket Raja.

The arrested persons were produced before a judicial magistrate and later, they were released on conditional bail, said police.

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