Chennai: Economic Offenses Wing (EOW) Police arrested two people including a Sri Lankan Tamil for stealing 30 crores from a private finance company run by the son of former Minister of State AIADMK , Lawrence, Anto Stalin, in Ayanavaram. They diverted the funds to around 116 fake companies started by them. The arrested duo were sent to prison. Police had arrested another suspect two months ago.
Those arrested were identified as Sudhakar, from Jaffna in Sri Lanka, and Prema Sudha. Detectives had previously arrested Ramesh, who worked as a senior executive in the financial company owned by Anto Stalin. Ramesh and Premasudha were in a relationship, police said.
After joining the company in 2012, Ramesh orchestrated the fraud in collusion with Sudhakar and Prema Sudha. The trio launched up to 116 fake businesses and took advantage of Anto Stalin’s business credit. These companies initially paid interest until 2018.
The issue arose after Anto assigned a team of people to audit the accounts. The team discovered that almost 30 crores had gone missing from his business. A detailed internal investigation revealed that the money had been misappropriated in the form of loans to the 116 businesses set up by people known to the three defendants.
Following this, Anto filed a complaint with EOW investigators, who found that the three had defrauded the money. While Ramesh was arrested two months ago, sleuths nabbed the other two on Wednesday.
Police are investigating the whereabouts of the defrauded amount and investigating the background of the arrested Sri Lankan Tamil.
Those arrested were identified as Sudhakar, from Jaffna in Sri Lanka, and Prema Sudha. Detectives had previously arrested Ramesh, who worked as a senior executive in the financial company owned by Anto Stalin. Ramesh and Premasudha were in a relationship, police said.
After joining the company in 2012, Ramesh orchestrated the fraud in collusion with Sudhakar and Prema Sudha. The trio launched up to 116 fake businesses and took advantage of Anto Stalin’s business credit. These companies initially paid interest until 2018.
The issue arose after Anto assigned a team of people to audit the accounts. The team discovered that almost 30 crores had gone missing from his business. A detailed internal investigation revealed that the money had been misappropriated in the form of loans to the 116 businesses set up by people known to the three defendants.
Following this, Anto filed a complaint with EOW investigators, who found that the three had defrauded the money. While Ramesh was arrested two months ago, sleuths nabbed the other two on Wednesday.
Police are investigating the whereabouts of the defrauded amount and investigating the background of the arrested Sri Lankan Tamil.
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