Managing partners of investment firm arrested from Kerala

Coimbatore: The economic offences wing (EOW) police arrested two managing partners of an investment firm on Saturday for cheating more than 500 people of 20 crore.
The arrested people were identified as R Anand, 45, of Avarampalayam, and S Gokul, 47, of Ganapathy, managing partners of Daily Max Capitals Private Limited on Bharathiyar Road at New Siddapudur in Coimbatore city.
The firm launched an investment scheme in 2018, offering to double 1 lakh in 90 days. Hundreds of people invested in the scheme, and the firm initially gave the money to some of them. Investors approached EOW after the firm shut shop.
Police registered a case against Anand, Gokul, director Senthilkumar, his wife Lalitha, Balu and Navaraj in 2020. They managed to arrest everyone, except Anand and Gokul.
A team led by inspector Selvarani traced the duo's whereabouts to Kerala and arrested them on Saturday. They were produced before the TNPID special court and remanded in judicial custody.
Preliminary inquiry revealed that Anand bought a flat worth 50 lakh at Nallampalayam using the money and Gokul bought a car and four motorcycles. Police seized three motorcycles from Gokul.
Though the firm cheated several people of ₹20 crore, EOW has received only 60 complaints worth 3.17 crore, an officer said.