Woman arrested for duping relative of Rs 1.64 crore in TN

COIMBATORE: The Coimbatore district crime branch police on Tuesday arrested a woman for duping a relative of Rs 1.64 crore under the pretext of starting a women’s self-help group (SHG) and promising high returns through investments in it.A Puviyarasu, 36, a businessman from Oonjavelampatti in Pollachi, was approached by his relative Ramya, 37, of Valliammal Layout in Pollachi in January 2023. She claimed that she was launching a women’s SHG and convinced him that investing in the group and lending weekly loans to the members would generate high profits.Believing her, Puviyarasu initially invested Rs 4.90 lakh in March 2023. Ramya later claimed that the group commenced operations and even provided documents listing supposed borrowers.

She transferred the first week’s collection to Puviyarasu’s bank account, persuading him to reinvest the returns.From March to December 2023, Puviyarasu transferred a total of Rs 1.64 crore to Ramya in multiple installments. However, she eventually stopped sending collections, citing various excuses. When he verified the loan documents, he found that the listed borrowers were not part of any SHG and did not receive any loans.Realising that he had been cheated, Puviyarasu filed a complaint with the Coimbatore district crime branch police. The police registered a case and arrested Ramya. She has been remanded in judicial custody.