2 held for cheating investors of Rs.4.5 crore

Coimbatore: Two persons have been arrested on charges of cheating several investors of rs.4.5 crore by promising attractive weekly income for a meagre investment, police said today.

Ganesan and Senthilvinayagam were arrested here last night following complaints from more than 50 persons that their firm Globous Online Survey had failed to meet the weekly payments. The firm had promised to pay rs.1,600 weekly income on a deposit of rs.11,500, police said.

Though the company paid the promised amount in the initial weeks to some persons, thousands of people from across the State started investing, leading to irregular payments to depositors, sources said.

When the company failed to pay the weekly amounts, the investors grew suspicious and were shocked to find the firm locked and the persons absconding, police said. The two were produced before the second judicial magistrate court and remanded to custody, police added.