The police have arrested an absconding accused in connection with an ₹87 lakh cheating case in Madhavaram, where a group allegedly duped a man by promising high returns from a goat trading business.
The complainant, Jagan, 44, a resident of Kilburn Nagar in Madhavaram, runs a computer sales and service shop at Spencer Plaza. In 2020, he came in touch with a group of people, including Raju alias Balraju, Deepa, Ilavazhagi and others.
According to the complaint, the group visited Jagan’s house and persuaded him to invest in goat trading , claiming it would yield high profits. In August 2020, Jagan initially paid ₹10 lakh. The following month, they gave him ₹80,000, claiming it to be his share of profit from goat sales, to gain his trust.
They further convinced him to join as a partner, promising 50% share in profits, and stated that a goods carrier vehicle was needed to procure goats from Rajasthan. Believing them, Jagan paid a total of ₹87 lakh in instalments. However, the accused neither shared the promised profits nor returned the investment.
Based on his complaint, the Madhavaram Police launched an investigation. Earlier, on March 9, the police arrested three accused — Raju alias Balraju, 37, his wife Deepa, 36, and Ilavazhagi, 39. On further probe, the police arrested another accused Sakthivel, 51, a resident of Vyasarpadi. Further investigation is under way.
