CHENNAI: Economic offences wing CID police arrested a key suspect Venkatesan in connection with the International Financial Services (IFS) scam who swindled about Rs 6,000 crore cheating more than 50,000 people after collecting deposits from them under various schemes.
Another suspect named Prabhu is being questioned by the police team.
IFS is one of the four trading / investment companies including Aarudhra Gold trading, and Hijau, which had come under the investigation of EOW in connection with alleged cheating of investors after luring deposits offering exorbitant interest.
A total of 2.87 lakh people have invested in the four companies to the tune of Rs 13,700 crore during the last few years.
EOW has already made over a dozen arrests in these cases while the enforcement directorate had also started scrutinising the financial transactions of the four companies.
One of the DSPs investigating the IFS case was placed under suspension after it came to light that he had demanded Rs 5 crore bribe to go slow on the case and received Rs 32 lakh as first installment.
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