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The Hindu
The Hindu
National
Special Correspondent

Case registered against gold trading firm

Gold

The Economic Offences Wing of the Tamil Nadu police have registered a case against a gold trading firm on charges of cheating depositors.

In a press release the EOW said, the firm, Aarudha Gold Trading Pvt Ltd, had collected money as deposit from the public with the promise of returning it with exorbitant rate of interest. The deposit collected from the new depositors was used to pay the interest to old depositors. However, there were complaints from certain depositors that their money was not repaid.

Simultaneous searches were conducted on the premises of the company and its directors at 26 places across Tamil Nadu. The bank account of the company with a balance of ₹15 crore was frozen, an investigator said.

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