CB-CID arrests more suspects in Iridium scam

CHENNAI: In their ongoing investigations into the Iridium scam by a gang, the Crime Branch-Criminal Investigation Department (CB-CID) of Tamil Nadu Police have arrested more suspects including 5 key conspirators.

The gang defrauded the public by misusing the name of RBI and luring them to invest in Iridium by claiming that the metal had spiritual powers and would bring in exponential wealth. Based on the tip-off, the CB-CID suo motu registered 13 cases and launched a coordinated investigation.Initially, 13 were arrested.

Later, 30 more were arrested, including SHS Swaminathan of Chennai, Jeyaraj of Katpadi, AC Ravichandran of Kudumiyanmalai, Gnanaprakasam of Manapparai and Daisy Rani of Dindigul – all belonging to 5 major fraud gangs. Recently, police arrested Kambam Chandran, Perumanallur Rani, Musiri Yuvaraj, Varusanadu Palaniammal, and Nagapattinam Rajasivam along with their associates.