Sources said that Kamaludeen from Rahman Nagar in Thanjavur was running a firm named Rahmad Bus Transport and sought investments from the public promising good returns. He collected funds between Rs 1 lakh and Rs 10 lakh from residents of his locality and promised to give them a monthly incentive of Rs 2,000 to Rs 20,000.
During the initial stages, Kamaludeen properly paid the incentives to the investors. Impressed by the prompt returns, more residents expressed willingness to invest and thus he had reportedly collected at least Rs 700 crore.
However, Kamaludeen who had a prolonged illness died on September 19. Subsequently, those who had invested in the transport firm approached Kamaludeen’s wife Rehana Begam and sons Afsal Rahman and Hareez and inquired about their investment. But, they had reportedly given some unsatisfactory response and expressed that they were not aware of such investments.
So, the residents approached the Thanjavur Collector to help them get their money back from the family of Kamaludeen.