Two key accused in the alleged FQL cryptocurrency investment fraud were arrested on Monday after they surrendered before a court in Dindigul
Police allege that schemes operating under names including FQL Investment Trading, FQL Exchange App and VG Investment Group Syndicate induced people to invest by promising unusually high daily returns and claiming their money could double within 40 to 45 days.
Madurai EOW police subsequently arrested the couple and brought them to Madurai for further investigation, police sources said. Ranjith and Priyadharshini are among three people specifically named in an EOW FIR in the case. The third is Richard Saros, stated in the FIR to be based in the United States. Investigators have described the couple as key persons allegedly connected with the investment network, though police have not conclusively identified Ranjith as its overall mastermind. Police are continuing to trace the flow of funds and identify others allegedly involved.
K Ranjith of Kattayampatti near Melur and his wife Priyadharshini surrendered before the Dindigul judicial magistrate-II court. Ranjith and Priyadharshini had earlier denied wrongdoing and claimed they were themselves investors in the scheme. Madurai : Two key accused in the alleged FQL cryptocurrency investment fraud were arrested on Monday after they surrendered before a court in Dindigul, marking a major development in the economic offences wing (EOW) investigation.