On May 24, the Economic Crimes Unit conducted raids at 26 locations across Tamil Nadu based on complaints from the victims that they had been scammed through attractive advertisements claiming that if they paid Rs 1 lakh, they would get interest of Rs 30,000 per month. A case has been registered against 8 people including the director of Arudra Finance Company. Two persons were arrested in this case.
Earlier, preliminary investigation revealed that about 90 thousand people had invested 2125 crores in Arudra Gold Trading Company. It was reported by the authorities that assets of Rs 85 crore have already been frozen and assets worth around Rs 150 crore have been identified in connection with this company.
Pursuant to the Madras High Court order, the Tamil Nadu government has been directed to arrange for the investors of Arudra Gold Trading Company to file a complaint with documents related to their investment.
On that basis, arrangements were made at Rajaratnam Stadium, Egmore, Chennai, for those who had invested in Arudra Gold Trading Company across Tamil Nadu to file a complaint. After that, it was informed that a complaint can be filed in the Chennai District Collector’s office
According to the Economic Offenses Division police, 1 lakh 8 thousand 920 people from all over Tamil Nadu have filed complaints with documents that they have invested in Arudra Gold Trading Company till September 30.
Based on this calculation, it has been revealed that Arudra Gold Trading Company has collected Rs.
Officials have said that the main directors of this company are absconding and a lookout notice has been issued and they are actively engaged in searching. Officials also said that they are calculating the documents seized from Arudra Gold Trading Company. The officials of the Economic Crimes Unit said that they are continuously identifying and freezing the assets related to this company
They said that after verifying the documents of the complainants, the invested money will be returned to the eligible persons by selling the confiscated properties in connection with Arudra Code Trading Company and returning the invested money as per law.