Director of financial firm interrogated in fraud case

Mr. Jindal
1 Min Read

One of the directors of LNS International Financial Services, wanted in a major financial fraud case allegedly involving more than ₹850 crore, was interrogated by officers of the Economic Offences Wing (EOW).

A senior police officer of the EOW said Vedhanarayanan, one of directors of LNS International Financial Services, was secured last month through a Look Out Circular (LOC) at the Chennai airport after he landed from the U.K. ā€œWe took him into custody and interrogated him on Tuesday, and he was returned to judicial custody on Thursday,ā€ the officer said.

The police said LNS International Financial Services had collected money as deposits from the public with the false promise of 6% to 10% in monthly interest. But the company failed to pay the monthly interest as well as the principal amount to the depositors. More than one lakh people depositedĀ over ₹6,000 crore in the firm.

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