Tamil actor-producer RK Suresh linked to Aarudhra Gold Trading scam
What's the story
The Economic Offences Wing (EOW) of Tamil Nadu, which is probing the Aarudhra Gold Trading scam, has reportedly received inputs that linked Tamil cinema actor-producer RK Suresh to the scam.
Reportedly, one of the accused has the alleged involvement of Suresh in the Ponzi scheme case. Aarudhra Gold Trading Private Limited has allegedly cheated thousands of depositors to the tune of Rs. 2,400 crore.
Context
Why does this story matter?
Aarudhra Gold Trading Private Limited, which is now defunct, was a non-banking finance firm based out of Chennai. It allegedly promised higher interest rates to thousands of its investors but failed to do so.
Tamil Nadu's EOW has made several arrests in the case, including directors of the firm. As per reports, one of the directors is a former Bharatiya Janata Party (BJP) functionary.
Details
Actor Russo alleged Suresh's link to scam
Actor Russo, who has already been arrested by the investigation agency in the case, has alleged Suresh's link to the scam case, said multiple reports on Saturday.
Following Russo's revelation, the EOW carried out an investigation. It also analyzed the CCTV footage and found Suresh at the corporate office of Aarudhra Gold Trading.
The probe to unearth Suresh's link is underway, IANS reported.
Arrests
EOW has made several arrests
Multiple criminal cases have been filed against Aarudhra Gold Trading across Tamil Nadu. On Wednesday, the EOW arrested one S Michaelraj (31), who was working in the capacity of an administrative director in the company, from the Chennai international airport.
Earlier, the agency also arrested two more directors of the firm, including K Harish, who is reportedly a former BJP functionary.
About the case
What's the Aarudhra Gold Trading scam about?
According to reports, the company cheated about one lakh people to the tune of Rs. 2,438 crore. Several cases were filed against Aarudhra Gold Trading for collecting funds from and defrauding investors between September 2020 to May 2022.
Those duped by the company also reportedly include people belonging to low socio-economic backgrounds who invested their life savings for a promise of higher interest rates.