Pudukkottai, Tamil Nadu. A functionary of actor-politician Vijay’s Tamilaga Vettri Kazhagam has been arrested in connection with an alleged investment fraud of more than ₹25 crore, after omplaints that over 100 people were cheated through promises of high returns. The accused, identified as Saravanan, is said to be a central district executive committee member of the party.
High Returns Allegedly Promised to Investors
According to police, Saravanan allegedly collected money from several individuals over a period of years by presenting investment opportunities and informal lending arrangements. The amounts collected reportedly ranged from ₹30 lakh to ₹1.5 crore from different investors.
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Investigators said the accused promised unusually high returns to gain the confidence of victims. In some cases, he allegedly cited personal financial needs and his mother’s illness while borrowing money. Police said initial repayments were allegedly made in some instances to build trust, but payments later stopped.
Complaints Lead to Crime Branch Probe
Police said the total amount involved is estimated to be more than ₹25 crore. Victims claimed they had been unable to contact Saravanan for about 15 days, after which multiple complaints were filed.
The case was later transferred to the District Crime Branch for detailed investigation. Based on complaints and surveillance, police tracked the accused to another state and arrested him. He was then brought to the Pudukkottai District Crime Branch office for questioning.
Investigators are examining whether the accused used his political association to gain the trust of investors. Police have said the probe is focused on financial transactions, fraud patterns and evidence.
Victims Protest Outside SP Office
After news of the arrest emerged, more than 100 affected investors gathered outside the Superintendent of Police office, demanding strict action and recovery of their money. Police intervened and brought the situation under control.
Authorities are now examining bank accounts, financial records and asset holdings linked to the accused to trace the money trail. Investigators are also trying to determine whether the funds were diverted elsewhere or routed through multiple channels.
Police have not ruled out the involvement of additional individuals. The case has raised concern over investment frauds involving unrealistic return promises and informal financial arrangements, with authorities urging people to verify such schemes before investing.
