Son of businessman arrested for cheating over 100 people

Coimbatore: The crime branch of the city police on Thursday arrested a son of a businessman for allegedly cheating 100 people of Rs 35 lakh by promising them to provide jobs in his concern.
MSR Balachandran, son of Ramachandran who is the managing director (MD) of Nellai Muthu Villas Sweet and Snacks Shops, was arrested based on a complaint from one of the victims, M Govindaraj. As the news about his arrest spread across the city, more than 10 people gathered at the city police commissioner’s office on Thursday seeking justice.
“Based on an advertisement published in a Tamil daily, I had sent my resume to the company and was immediately asked to appear for the interview at the company’s office near Anna Statue on Avinashi road. Shortly after the interview, I was told I was selected as branch manager for the one of the branches of Nellai Muthu Villas gold loan agency and was asked to pay Rs 30,000 as caution deposit which I had paid immediately,” SM Rajaganesh, a resident of Sukrawarpet, said.
Within a month or two after the interview, I got a cheque from the company and was asked to collect my deposit amount after six months, he said, explaining that when he deposited the cheque in the bank, it was returned due to insufficient fund. Rajaganesh said he had met Balachandran demanding to return his money back but of no veil. Rajaganesh who was working as a cashier cum marketing executive at a private automobile showroom in the city applied to the branch manager job.
“Nellai muthu villas is a reputed brand and I never imagined that they would cheat me. I quit my job because of the trust that I had in them. Now because of the same trust, I was forced to sell tea packets to retailers. I was earning Rs 18,000 per month, but now I hardly earn Rs 300 per day,” he added.
Another victim, K Raj from Selvapuram said he had obtained loan to pay the caution deposit and have been struggling to repay it. People were interviewed for the posts of manager, accountant and cashier at the branches of both sweet shops and gold loan agency and for their tandoori tea franchise.
In case of franchise, interviewees had paid about Rs three lakhs as caution deposit, said the victims, adding, “more than hundred people would have been affected because of the accused and most of them are elderly people who are aged above 50 years.” The accused was produced before the judicial magistrate and lodged in Coimbatore central prison.