Couple booked for cheating investor of 16 lakh

Coimbatore: The economic offences wing (EOW) police, Coimbatore, have registered a case against the chief executive officer (CEO) of Alpha Forex Markets, his wife, and a few others for cheating an investor of 16 lakh.
K Murugan, 52, of Somanathapuram near Paramakudi in Ramanathapuram district, lodged a complaint with the EOW police, Coimbatore, on April 30 against P Vimalkumar, 37, and his wife V Rajeswari, 37, of Kurinchi Nagar on Madukkarai Main Road at Sundarapuram. The couple started a company named ‘Alpha Forex Markets’ at Kalapatti in 2020.
Vimalkumar also had a YouTube channel named Mr Money. He appointed agents and opened branch offices across the state. The couple also conducted meetings with the investors in the guise of teaching forex trading.
“The couple collected investments for their trading companies – Alpha Traders, Alpha Education, Alpha Trading Institute, Alpha Academy, and Alpha SRN Services – with a promise to provide 8 to 10 % monthly interest. The company collected around 300 crore and cheated investors,” Murugan said in his complaint. Police said Murugan invested 16 lakh in the forex trading company and was cheated by the couple.
Police said the couple went missing and their whereabouts are not known. However, the EOW police conducted searches at the office and residence of Vimalkumar at Ashok Nagar and Sundarapuram, and his two relatives’ houses at Kovaipudur and Selvapuram. Police collected various documents and electronic gadgets on Saturday.TNN