The Madurai Bench of the Madras High Court on Thursday sought a response from the State to a public interest litigation petition seeking a CBI probe into the FQL fraud case.
A Division Bench of Justices P. Velmurugan and K.K. Ramakrishnan was hearing a petition filed by M. Santhakumar of Melur in Madurai district who sought a CBI probe into the multi-crore fraud case. The court posted the matter for hearing after four weeks.
Meanwhile, five days after the main accused in the case, Ranjith and Priyadarshini, were detained under Goondas Act, three more accused: Ramesh, Anitha and Vijay were detained under Goondas Act on Thursday.
The fraud came to light in August after hundreds of people who were cheated of their investment amount staged massive protests across Dindigul and Madurai districts urging the authorities to take necessary action against those involved in the multi-crore investment scam.
It was said that the public were lured by promises that an investment of ₹50,000 through the mobile application would double in 45 days and that the high returns on investment would continue. Trusting the process, thousands of people from Madurai, Dindigul and neighbouring districts invested.
Initially, the investors were receiving returns denominated in US dollars and were able to withdraw the amount. As the news spread, many people joined the mobile application and invested through it.
Suddenly, it became impossible to withdraw money through the mobile application. News of this spread rapidly across social media, leaving the investors in a state of shock and leading to massive protests in Madurai, Dindigul and neighbouring districts. The investigation into the fraud case was transferred to the Economic Offences Wing.
Published – October 08, 2026 09:34 pm IST
