Chennai: Crime branch police in Tiruvallur district arrested two brothers for running a finance company that collected nearly ₹30 crore from more than 200 people by promising to double their investments and later failed to repay the deposits.Kannan, 52, and his brother Kamaladas, 49, both residents of Villivakkam, operated the company in Tiruvallur for five years. To build confidence, they initially paid double the amount to early investors.Police said a network of agents was later engaged to mobilise deposits. However, when the schemes matured, the company failed to repay the promised amounts. Following this, the investors approached the district crime branch.Inquiries revealed that the duo operated similar finance establishments in Trichy, Madurai, Sivaganga, Karur, and Salem. The brothers were arrested and lodged in Puzhal prison.
