TAMIL NADU Multi-crore scam involving film producer transferred to Economic Offences Wing
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NEWS STATES TAMIL NADU
TAMIL NADU Multi-crore scam involving film producer transferred to Economic Offences Wing
S. Vijay Kumar
CHENNAI, SEPTEMBER 08, 2020 16:30 IST
UPDATED: SEPTEMBER 08, 2020 16:30 IST
The case involves deposits to the tune of ₹3 crore collected from dozens of complaints in Ramanathapuram district, who say they have been cheated
A case relating to an alleged multi-crore fraud of deposits offering high returns, involving two firms based in Chennai and Ramanathapuram, has been transferred to the Economic Offences Wing (EOW).
Acting on the proposal of then Ramanathapuram Superintendent of Police R.V. Varun Kumar, Director General of Police J.K. Tripathy directed that the case files be handed over to the EOW for further investigation. Film producer K.V. Gnanavelraja and a couple of other film personalities were accused in the case in which deposits to the tune of ₹3 crore were collected from dozens of complaints in Ramanathapuram district alone. At least 250 more complaints poured in as police started investigating the case, police sources said on Tuesday.
The case is that S. Neethimani of Chennai-based Bullion Fintech LLP residing in Alwarpet claimed that he had construction businesses in Singapore, Malaysia, Dubai and other countries and offered high returns on investments in his industry. He engaged S. Anand, a government school teacher, to canvass the scheme and raise funds in Sivaganga and Ramanathapuram districts.
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Accordingly, Mr. Anand raised funds through Angayoan Associates, a financial firm operated in the name of his wife. On information that the accused persons had cheated depositors and were even planning to flee the country, the Ramanathapuram police registered a case and arrested both the suspects. After further enquiries and the statement of Mr. Neethimani revealed the alleged involvement of Mr. Gnanavelraja and film distributors Siva and Muruganandham, their names were also added as accused in the case, the sources said.
Since the scam involved a huge money and the investigation required the collection of documents/recording of statements in several districts, the Ramanathapuram Superintendent of Police wrote to the DGP recommending that the case be transferred to the EOW which is a specialised unit for investigating financial frauds, the sources added.
