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Duo held for cheating over investment scheme 

Two men have been arrested for allegedly cheating the public by promising to double their investment in 33 months.

Published: 08th March 2020 06:42 AM  |   Last Updated: 08th March 2020 06:42 AM   |  A+A A-

By Express News Service

CHENNAI: Two men have been arrested for allegedly cheating the public by promising to double their investment in 33 months. Police identified the duo as Ganesh Ram, managing director of now defunct I Max Capital Solutions, Ashok Nagar, and its general manager Theri Rajan. Based on complaints, KK Nagar police arrested the duo. Investigation revealed that the two started the company in 2018 and lured people by promising them to double their investments. “Many people invested in the firm which in turn invested the sum in gold trading and stock market and repaid their customers,” police said. Later, as per regularisation of non-registered firms, the company was not able to invest in stock market and thus repay its depositors, police said. 

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