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Showing posts from May, 2023

Aarudhra Gold director arrested for investment fraud

The company allegedly collected deposits totalling ₹2,400 crore from over one lakh investors by offering to give interest of 25% to 30% a month; two directors were arrested in May last year. The Economic Offences Wing (EOW) CID of Tamil Nadu Police on Friday arrested a director of now defunct Aarudhra Gold Trading Pvt. Ltd ., a non-banking finance company for cheating many depositors in Kancheepuram district. RK Suresh The police gave the name of the arrested person as K. Harish, 31, of Kancheepuram. He was a functionary of Sports and Skill Development Cell of the BJP in Tamil Nadu. However, the party clarified that he was removed from the post in June last year. The police said from September 2020 to May 2022, Aarudhra Gold Trading Pvt. Ltd ., functioning from Aminjikarai, collected deposits totalling ₹2,400 crore from over one lakh investors by offering to give interest of 25% to 30% a month. The company failed to keep its promise. The firms had appointed agents and conducted meeting...