CHENNAI: Personnel from the Economic Offences Wing (EOW) on Sunday searched more than 10 locations said to be linked to T Devanathan Yadav, who was arrested for allegedly cheating investors in the finance firm, Mylapore Hindu Permanent Fund Nidhi Limited case, in which Yadav was the CMD.
The finance firm and the office of Win TV, owned by Yadav, were sealed following the search, sources said. Yadav was the BJP-led NDA alliance’s crorepati candidate for Sivaganga in the recently held Lok Sabha polls in which he lost. He also has business interests in mining, renewable energy and agriculture.
A Win TV reporter R Gunaseelan (57) and cameraman D Mahimainadhan (53), who were serving as directors in the finance firm, were also arrested. The company did not pay the assured interest and maturity amount to the depositors.
Till date, 144 petitions to the tune of Rs 24.5 crore of defaulted deposits were received against the company, police said.