FQL fraud case: Two accused detained under Goondas Act
Two primary suspects in a multi-level marketing fraud case, FQL, have been detained under the Goondas Act in Tamil Nadu. Authorities have received approximately 30,000 complaints regarding the scheme, which promised high returns through copy trading.
Why it matters
The use of the Goondas Act highlights the severity of the financial fraud and the government's attempt to curb large-scale investment scams.
Two main accused in the FQL multi-level marketing fraud cases, Ranjith and Priyadarshini, have been detained under Goondas Act.
Madurai Collector Nishant Krishna ordered their detention based on the recommendation of the Superintendent of Police (South Zone) of Economic Offences Wing K. Saravanakumar.
According to EOW sources, a total of six cases, three in EOW Madurai, one each in Sivaganga, Dindigul and Virudhunagar, have been registered.
“So far, around 30,000 complaints have been received in these cases. Entry of the complaints are under way. Each complainant has been cheated of ₹50,000 to ₹1 lakh on the promise of doubling their investment within 40 to 45 days through “copy trading” and “daily reward points”.
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