4 members of Trust arrested for cheating over 200 depositors to the tune of Rs 4.3 cr
05-Feb-2025 05:03 PM 3821
Chennai, Feb 5 (Reporter) The Economic Offences Wing (EOW) in Salem have arrested four members of a Trust, including two women--both Founders--for cheating more than 200 depositors to the tune of Rs 4.3 crores. The EOW Team also seized Rs 12,68,42,850 cash, 3 kg gold jewellery and 13 kg silver articles from their possession. An EOW release here on Wednesday said for the past two years, a trust named Saint Mother Theresa Humanitarian Charitable Trust has been operating at Ammapet in Salem district of Tamil Nadu. It was functioning under the management of the accused individuals Vijayabanu, Founder of the Trust, Jayapradha, Co-founder of the Trust, Baskar, Participant of the Trust and Syed Muhammed, Member of the Trust. The Trust conducted free coaching programs for the general public in computer training, tailoring, english language courses, TNPSC Group I to IV exam coaching, free tuition classes for children and handicrafts, including wire bag making. They lured aspirants by providing lunch for Rs 10, including tea, coffee, and snacks during breaks. Attracted by these, an increasing number of people started gathering daily. Additionally, the Trustees assured the public that those who invested money would see an improvement in their financial status, allowing them to establish their own businesses and help the poor. Based on these claims, they encouraged the public to invest in various schemes. They included Grocery Scheme--Deposit Rs 1,000 and receive groceries worth Rs 2,000 within 1.5 months; Pension Scheme--Invest Rs 1,00,000 and receive Rs 30,000 per month for seven months, totaling Rs 2,10,000; Housing Plot Scheme--Invest Rs 10,000 per month for 12 months (Rs 1,20,000 in total) to receive a 750 sqft housing plot; Gold Jewel Scheme--Invest Rs 18,000 by paying Rs 1,500 per month for 12 months to receive a 5-gram gold coin, besides in various other investment schemes. Believing these promises, the general public invested their money according to their financial capacity over the past two years. Recently, on January 23, the Trustees introduced a Super Bumper Scheme, where an investment of Rs 1,00,000 would yield Rs 30,000 per month for nine months. Based on concrete information, a case was registered in Salem EOW under Sections 316, 318, 62 of BNS and Sections 3, 5, 21(1), 23 of the BUDS Act against Vijayabanu, Jayapradha, Baskar and Syed Muhammed. A Special Team led by the DSP EOW, proceeded to Sivakami Kalyana Mandapam where the Trust was functioning and found that money was being collected from the public under the guise of the Pension Bumper Scheme and other fraudulent schemes. Consequently, the accused were arrested and Rs 12,68,42,850 cash, 3 kg gold jewellery, 13 kg silver articles were seized from their possession. The arrested individuals were produced before the TNPID Court, Coimbatore, along with the seized assets. Additionally, three four-wheelers used by the accused were also seized. Further investigations revealed that several cases had already been registered against Vijayabanu in the past. They included two cadres at Avadi District near Poonamallee in Chennai u/s 380 IPC, a case booked by 3. Chennai Central Crime Bracn u/s 419, 420, 465, 467, 468, 471 IPC @ 170, 34, 419, 420, 465, 467, 468, 471 IPC and 380; another case by Chennai CCB u/s 406, 419, 420 IPC @ 170, 406, 419, 420 IPC; at Chennai T. Nagar Vadapalani u/s 380 IPC and in Vellore District Crime Branch u/s 419, 420 IPC @ 34, 419, 420 IPC. So far, 216 depositors have lodged complaints, claiming defaults amounting to Rs 4.3 crores, and more complaints are being received. The general public who lost their deposit money in the afore-mentioned Trust are requested to lodge the complaint with connected documents before the EOW, Salem...////...
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