Coimbatore: The Economic Offences Wing (EOW) police have frozen Rs 75 crore that was deposited in three bank accounts of a ponzi firm that duped several hundred investors of Rs 150 crore. Police are likely to approach the court to take the couple, who were running the firm, into their custody for further investigation. An investigation officer said the firm, Dream Makers Global Pvt Ltd, was floated by S Sathishkumar, 38, and his wife S Gunavathi, 36, of Ramalingam Nagar at Saibaba Colony, in 2017. Sathishkumar was the managing director of the firm that was located on Saibaba Colony, while Gunavathi was its director. âTo lure investors, Sathishkumar announced various schemes. He promised to pay them Rs 100 for 150 days for every investment of Rs 6,000, which he said would be invested in online trading, and returned at the end of the investment term. In total, he announced 12 such schemes,â the officer said. Meanwhile, Manojkumar, 35, of Udayampalayam, who invested Rs 6.80 lakh in the firm last year, lodged a complaint with EOW police when the couple defaulted on the payment and started to avoid him. He was paid back just a lakh. EOW police registered a case… Read full this story
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