Coimbatore: Man held for cheating 19 people of Rs 3 crore

COIMBATORE: The City Crime Branch on Thursday arrested N Krishnamoorthi, 56, of Saravanampatti, for cheating 19 people of 2.97 crore.
Complainant R Rajagopal, 66, a retired nationalised bank manager and a resident of Gandhi Nilayam in Tirupur city, said he had invested 27 lakh in Krishnamoorthi’s firm LG Marketing after he was assured 20 -30% monthly return.
Krishnamoorthi was running Krishna Academy in Coimbatore city and used to appear in a TV programme to dish out advice about share market and trading, Rajagopal said. “I met him in person in 2016, invested a few lakhs in the share market as per his advice and earned good profit. Meanwhile, Krishnamoorthi launched LG Marketing at Nava India in Coimbatore and Chennai,” he said.
Police have received 19 complaints against Krishnamoorthi worth 2,97,27,550.