Eight arrested for financial fraud in Puducherry

The police have arrested eight persons in connection with a financial fraud. Acting on a complaint from a resident of Lawspet that he was cheated of ₹1 crore, the Orleanpet police arrested eight persons, including the main accused, Mohamed Rafiq. The police have seized around ₹39 lakh and a car from the arrested persons, Senior Superintendent of Police, Law and Order R. Kalaivanan said.

Following the fraud committed by P. Patel Enterprises, Patel Angadi in Kosaplayam, the SSP said a register, empty letter pads and an attendance book were seized from the firm’s premises. The remaining ₹49 lakh has to be recovered from the accused. Further investigation was on, the SSP said.

“The accused lured businessmen with promises of high returns and doubling of money using fake documents and half-cut currency notes as a token. They were involved in organised money laundering and their network was spread across various places,” he said.

People are advised not to believe in strangers or unknown persons who promised quick returns on investments, he said, adding that such offers were traps. Public are requested to verify credentials of persons or firms before making any investment. Residents could approach the nearest police station or dial 112 in case of reports of any financial fraud, the SSP further added.