Siblings Ganesh and Swaminathan, residents of Sridhar Colony in Kumbakonam, have been running Victory Finance and other businesses. Since they also own a helicopter, they are called the ‘helicopter brothers’. Ganesh is president of the BJP traders’ wing, Thanjavur.
The duo would collect deposits from the public with a promise of doubling the money in a year. They had also appointed collection agents. However, the brothers failed to return the money citing business failure owing to the pandemic. Later, a couple approached the Thanjavur SP Deshmukh Sekhar Sanjay and lodged a complaint against the brothers stating they had been cheated of Rs 15 crore. Based on the complaint, the District Crime Branch began an investigation. People who lost their money put up posters across Kumbakonam stating they were duped of RS 600 crore and demanded the government to initiate action against the duo. Ganesh was also reedfrom e party post. Inquiries were also conducted at the finance firm. The manager Srikanthan was arrested while the duo escaped.
On Wednesday, the police raided Ganesh’s house. Later, a case was registered under various IPC Sections against Ganesh, Swaminathan and their associates Ragunathan and Meera.