Trichy: A functionary of the Tamilaga Vettri Kazhagam (TVK) in Pudukottai, who allegedly defrauded numerous individuals of approximately Rs 15 crore by promising high returns on investments, was apprehended from Maharashtra on Monday.
Details of the Arrest
According to sources, the accused, identified as R Saravanan, 31, hails from Thiruvappur in Pudukottai and reportedly served as a district executive committee member of the TVK. Saravanan is accused of collecting over Rs 15 crore from hundreds of people by offering high interest rates, but subsequently failed to repay them. When investors tried to contact him, he remained unreachable, prompting several of them to file complaints with the police.
Investigation and Capture
The district crime branch police launched an investigation and traced Saravanan to Maharashtra. He was arrested there and brought back to Pudukottai on Monday. Upon learning of his arrest, the affected individuals gathered at the office of the Superintendent of Police. Police assured them that a case would be registered, strict action would be taken, and efforts would be made to recover their money.
This case highlights the risks associated with investment schemes promising unusually high returns. Authorities urge the public to exercise caution and verify the credentials of individuals or organizations before investing money.
