Home / Crime and Justice / Trichy Trader Arrested in ₹16 Lakh Investment Scam
Trichy Trader Arrested in ₹16 Lakh Investment Scam
17 Jul
Summary
- A fruit trader was arrested for allegedly cheating an advocate.
- The fraud involved a sum of ₹16 lakh with promises of high returns.
- The trader issued a bounced cheque when asked to repay the money.
A fruit trader from Trichy, identified as G Prakash, faces charges for allegedly cheating an advocate out of ₹16 lakh. The incident began about a year ago when Prakash, operating a wholesale fruit business, convinced advocate M Subash Chandra Bose to invest in his venture with promises of substantial returns.
Initially, Prakash returned an investment of ₹1 lakh along with a small profit, which built Bose's confidence. Subsequently, Bose invested approximately ₹16.5 lakh in cash and through various transactions over several months until January. However, Prakash failed to provide any further profits or repay the principal amount.
When the advocate demanded his money back, Prakash issued a cheque that later bounced. Following this, Prakash allegedly resorted to verbal abuse and threats against the advocate when pressed for the funds again. The advocate subsequently filed a complaint with the Gandhi Market police, leading to Prakash's arrest and placement in judicial custody.
