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Tension prevailed in Pudukkottai after a functionary of the Tamilaga Vettri Kazhagam was arrested by the District Crime Branch police in connection with an alleged financial fraud involving more than Rs 25 crore collected from over 100 people under the pretext of offering high returns on investment, Tamil Nadu police said.
The accused, identified as Saravanan, belongs to the Thiruvappur area of Pudukkottai city and serves as a Central District Executive Committee Member of the party. According to police sources, Saravanan had allegedly borrowed huge sums of money from prominent individuals and private lenders in and around Pudukkottai over the past several years. He is accused of collecting amounts ranging from Rs 30 lakh to Rs 1.5 crore from different persons by promising high-interest returns. In some cases, he reportedly cited his mother's ill health and other personal reasons while seeking money. It is alleged that he collected more than Rs 25 crore in total and failed to repay the investors. Victims claimed that they had been unable to contact Saravanan on his mobile phone for the past 15 days. Fearing that he might evade repayment by misusing the name of the ruling party after the recent political developments in Tamil Nadu, several affected persons had already submitted complaints to the Pudukkottai District Superintendent of Police over the past ten days. Based on the complaints, the District Crime Branch police launched a search operation and eventually arrested Saravanan from another state. He was later brought to the District Crime Branch office in Pudukkottai for inquiry. Upon learning about the arrest, more than 100 affected persons gathered at the office of the District Superintendent of Police, creating a tense situation. Some of them demanded that the accused be handed over to them, saying they would "take care of him themselves." Police officials later pacified the crowd and assured them that a case had been registered against Saravanan, and that he would be produced before the court. Officials also stated that he would be taken into custody for further investigation and that efforts would be made to recover and return the money to the victims. However, many of the affected persons continued to remain inside the Superintendent of Police's office premises, leading to a tense atmosphere in the area. (ANI)
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