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[Shereefah]

Chennai police capture Chief of forex exchanging business for duping  investors to tune of ₹65 crore

Police said the man and his partners had offered financial backers/investors exceptional yields and had gathered crores, however had fled in October last year.

The Focal Wrongdoing Part of the Chennai Police has captured a 32-year-old person for purportedly cheating various individuals, offering them exceptional yields through an online forex exchanging business.

The suspect has been distinguished as J.M. Vijay, who ran a prompting and consultancy organization, alongside his partner Sundaramurthy. Vijay asserted that he was the Chief and overseer of the firm, which was participated in an online forex exchanging business. He had welcomed individuals to put away cash with his organization, offering 4% profits from ventures of ₹ 1 lakh each month, and had said that he would return the primary soon. North of 100 individuals had put resources into the organization, for a complete amount of ₹65.98 crore.

Police expressed one of the partners of the firm moved the cash into digital currency reserves, and was likewise engaged with online forex exchanging. In any case, from October 14, last year, Vijay and his partners fled, and neglected to return the premium and chief sums as guaranteed, to the financial backers/investors.

In view of a grievance from a portion of the financial backers who were cheated, the police captured Vijay and remanded him to legal care.

[Ticam]

Thank God he has been caught, he wants to run with people's money. Evil man

[Mafy]

Investment and issues, if you want to invest, do so with renowned organisations only.

[NutK]

They didn't know how risky Forex could turn out before investing? It's 50/50

[Mafy]

They didn't know how risky Forex could turn out before investing? It's 50/50

He should have explained to them right from time not assuring them of something he knows the certainty of failing could be 80%

[Bblely]

Looks like Forex trading gone wrong with inexperienced investors. Could as well be a plan to scam from the onset though.

[Hopetom]

Forex is trading not investment, high risk trade at that, I call it coded gambling. I hope they recover their lost funds