CHENNAI: City Police's Central Crime Branch (CCB) on Friday arrested a 39 year old woman, a former staff in a private bank for allegedly cheating an elderly woman of over Rs 1 crore, by luring her to invest her money in her stock trading firm.
The arrested person was identified as V Jayashree of Choolaimedu.
Police acted based on a complaint from Poornima Neethu of Korattur. According to her complaint, her mother, Santhakumari (66) was introduced to the accused when she was working in a private bank at Anna Nagar.
The accused informed the elderly woman that she and her family members are running a trading company - "VJ agency" at Choolaimedu and convinced her to invest in their firm for better returns every month.
Believing Jayashree, the woman invested money to the tune of Rs 2.65 crore in several instalments from 2019 to 2021. However, Jayashree only returned Rs 64 lakh as profit and did not return the invested amount after which a police complaint was filed.
After investigations, CCB found truth in the allegations and arrested Jayashree on Friday. She was produced before a magistrate and remanded to judicial custody.