CHENNAI: Three persons, including a couple, were arrested for cheating a computer shop owner of about Rs 87 lakh by promising high returns on investment in goat farming business.
Madhavaram Police arrested the accused based on a complaint from Jagan (44), a resident of Gilbert Nagar in Madhavaram. He runs a store in a city mall selling laptops and computers, police said.
In August 2020, Jagan met Sakthivel and his wife Priyanka from Madhavaram. Sakthivel introduced him to Paulraj alias Balraju (37) and his wife, Deepa (36).
Paulraj and Deepa told Jagan that they were engaged in buying and selling goats and assured him that he would earn substantial profits if he invested in the business. They promised a profit of 8% if he invested Rs 10 lakh.
In August 2020, Jagan gave Rs 10 lakh to Paulraj through Priyanka. The following month, Paulraj paid him Rs 80,000 as profit.
Later, Paulraj told Jagan that he could earn up to 50% profit if he joined the business as a partner and convinced Jagan to buy a truck to ferry the goats from Rajasthan. Believing their assurances, Jagan paid Rs 87 lakh.
However, Paulraj and his associates later stopped paying the promised profits and did not return the invested amount after which he approached the courts, as police did not act on his complaint. Madhavaram police registered a case and arrested Paulraj, Deepa and their associate, Ilavazhagi. Search is on for Sakthivel and his wife Priyanka.