One Palani native J. Jegadeesh (37) was arrested on Wednesday for duping eight persons of ₹ 2.60 crore. Two more persons have now lodged a complaint saying the accused had duped them of Rs 1 crore on the pretext of engaging in online trading.

A few others from Chennai, Madurai and other places in Tamil Nadu have also alleged that they have been cheated by Jegadeesh.
Jegadeesh was arrested based on a complaint given by R. Sivakumar, a resident of Nanjundapuram near Kallipalayam at Sarcarsamakulam, to Coimbatore Rural Superintendent of Police Ara. Arularasu.

Jegadeesh had duped the complainant of ₹ 35 lakh which was given in October 2018 as stated in the FIR. He had allegedly promised Ravikumar of doubling the amount in seven months and returning it.

Ravikumar had also introduced seven of his friends to Jegadeesh. A total amount of ₹ 2.25 crore was invested with Jegadeesh, said the FIR that was filed by the District Crime Branch.