The Economic Offences Wing (EOW) police of the Indian state of Tamil Nadu have arrested a total of 59 people this year in connection to financial frauds. Inspector General of Police (IG), EOW CID N S Asiammal confirmed this news on the 15th of May while releasing a report. Individuals involved were suspects and directors or managing directors of Aarudhra Gold Trading Private Limited, Hijau Associates Private Ltd and LNS International Financial Services. A total of Rs 350 crore was fraudulently taken from over two lakh depositors.
Aarudhra Gold Trading Private Limited had duped 2,438 crores from depositors by promising higher returns with monthly interests of 25-30%. 32 people were suspects in this case, out of which 13 have been taken into custody and 8 more have been arrested recently. Hijau Associates Private Limited was held responsible for taking Rs 4,400 crore from 89,000 depositors and 38 individuals and companies were named in the investigation. Of those, 17 were taken into custody. In the case of LNS International Financial Services, 84,000 depositors were tricked into paying Rs 5,900 crore and out of 24 suspects, 8 have already been arrested and 4 more are living abroad.
Apart from these companies, other companies too have been held responsible. An international search warrant via Interpol has been issued to locate the primary suspects. In this regard, strict actions been taken to investigate and arrest criminals involved in financial crimes.
