By The Hindu Bureau

Copyright thehindu

A couple from Pothumbu B. Sivakumar and his wife have been cheated of ₹1.80 crore by a team of eight persons in the guise of doubling their investment in forex trading.

Madurai Central Crime Branch has registered a case of cheating against L. Balasubramani of Conti Trainers Prime Limited and Conti Capital Associates, Saravanakumar and six others.

In his complaint Sivakumar said that he was lured by the higher returns of investment by duo who claimed to have been running business in share market and forex trading.

With an initial returns of ₹13 lakh within a few months of investment in 2023, the associates laid a trap for Sivakumar and made him invest another ₹1.20 crore in 2024.

Sivakumar realised that he had been cheated only after the duo failed to give him the profit as promised after repeatedly asking them. CCB is investigating into the case and are on the lookout for the accused.