CHENNAI: The Economics Offences Wing team of TN police has frozen Rs 100 crore worth assets belonging to Aarudhra, a trading firm, in connection with a cheating case booked against the firm besides freezing 70 bank accounts of the firm and its senior executives.
The EOW sleuths had arrested two of the directors of the firm. A hunt is going to nab 12 others involved in the scam.
Aarudhra Gold Trading firm came under the EOW scanner after it started collecting deposits from people promising exorbitant interest rates for their deposits.
The firm was floated by P Rajasekaran with its headquarters in Aminjikarai and it has six branches in Chennai. It had expanded the business to other districts in Tiruvallur, Tiruvannamalai and Vellore.
The EOW CID police have arrested two directors — Baskaran and Mohan Babu — after booking all the accused under IPC Sections 420 and 120 (b).
Soon after the cops registered the case, they conducted searches at 26 premises belonging to the company and its directors in Chennai, and other parts of Tamil Nadu. Police decided to conduct searches after the firm announced a scheme promising 30% interest for Rs 1 lakh investment.
The EOW has registered a case against its directors J Baskar, P Mohanbabu, Usha Vettrivel, K Harish, V Rajasekar, A Senthilkumar, B Pattabiraman, S Michaelraj and others.
The sleuths have so far seized ledgers and registers with details of deposits, hard disc of 48 computers, 6 laptops, 44 mobile phones, 60 sovereigns of gold, two cars and cash of 3.41 crore.
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