The Coimbatore cybercrime police have arrested two brothers from Belagavi, Karnataka, for allegedly defrauding a city resident of ₹38.62 lakh through an online investment scheme.
According to police, M. Thangaraju, 47, and M. Shanmugasundaram, 50, were taken into custody following a complaint filed by a 64-year-old woman from Coimbatore.
The complainant, a resident of Navavoor Pirivu, told police that the duo persuaded her to invest ₹38,62,938, promising substantial returns from investments in institutional shares and initial public offerings, even naming specific companies. She alleged that the two cheated her after collecting the money.
Cybercrime officials registered a case and launched a search for the suspects, eventually arresting them in Belagavi. The brothers were produced before a Coimbatore court and remanded to the Coimbatore Central Prison on Friday.
