Vijay's party member arrested in ₹25cr fraud case
What's the story
An official of actor-politician Vijay's party, Tamilaga Vettri Kazhagam (TVK), has been arrested for allegedly committing a financial fraud of over ₹25 crore, according to Hindustan Times. The accused, identified as Saravanan, is a central district executive committee member of TVK and hails from Pudukkottai's Thiruvappur area. He was nabbed by the District Crime Branch police after receiving multiple complaints from investors who alleged he collected large sums with promises of high returns.
Fraud details
Saravanan promised lucrative returns on investments
Saravanan allegedly borrowed money from influential persons and private lenders in Pudukkottai over the years. He reportedly collected amounts between ₹30 lakh and ₹1.5 crore from different individuals, promising lucrative returns on investment. In some cases, he cited his mother's ill health and other personal emergencies as reasons for seeking money, officials reportedly said.
Evasion tactics
Victims couldn't reach him for last 15 days
Police said Saravanan cheated over 100 people of more than ₹25 crore. Victims also complained they couldn't reach him on his mobile phone for the last 15 days. Fearing he might misuse the ruling party's name amid recent political developments in Tamil Nadu, several victims lodged complaints with the Pudukkottai District Superintendent of Police in the past 10 days.
Arrest aftermath
Protest broke out outside police station
Based on the complaints, the District Crime Branch launched a search operation and arrested Saravanan from another state. He was brought to Pudukkottai for questioning. After news of his arrest broke, over 100 affected persons gathered outside the Superintendent of Police's office demanding action against him. Some protesters demanded Saravanan be handed over to them, reportedly saying they'd "take care of him themselves."
Investigation progress
Police pacified the crowd
Police later pacified the crowd and assured them a formal case had been registered against Saravanan. They also said he would be produced before a court for further proceedings. The arrest comes days after Vijay was sworn in as Tamil Nadu's chief minister. TVK emerged as the single-largest party in recent Assembly elections but fell short of a majority, later forming a government with support from smaller regional parties.