EOW freezes ₹ 30 crore in bank accounts linked to Ponzi firm MD in Coimbatore
The Hindu
Universal Trading Solutions Pvt Ltd has allegedly duped over 1,000 depositors of several crores
The Economic Offences Wing (EOW) of the police have frozen ₹ 30 crore in different bank accounts linked to G. Ramesh, Managing Director of Coimbatore-based Universal Trading Solutions Pvt Ltd (UTS) that allegedly duped over 1,000 depositors of several crores through Ponzi schemes.
A senior officer of the EOW said the ₹ 30 crore in different bank accounts belonging to Ramesh and his aides were frozen with the assistance of the Income Tax Department.
According to the officer, the EOW has identified 22 properties worth ₹ 60 crore belonging to the firm. They include two houses and farms that Ramesh allegedly purchased in the name of benamis.
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