Plea in HC seeks CBI probe into FQL fraud case
The Madurai Bench of the Madras High Court is considering a petition to transfer the investigation of a multi-crore investment fraud case involving the FQL mobile application to the CBI. Authorities have detained several key suspects under the Goondas Act following widespread protests by investors who were lured by promises of high returns.
Why it matters
This case highlights the growing threat of digital investment scams and the legal challenges in recovering funds for thousands of affected citizens.
The Madurai Bench of the Madras High Court on Thursday sought a response from the State to a public interest litigation petition seeking a CBI probe into the FQL fraud case.
A Division Bench of Justices P. Velmurugan and K.K. Ramakrishnan was hearing a petition filed by M. Santhakumar of Melur in Madurai district who sought a CBI probe into the multi-crore fraud case. The court posted the matter for hearing after four weeks.
Meanwhile, five days after the main accused in the case, Ranjith and Priyadarshini, were detained under Goondas Act, three more accused: Ramesh, Anitha and Vijay were detained under Goondas Act on Thursday.
The fraud came to light in August after hundreds of people who were cheated of their investment amount staged massive protests across Dindigul and Madurai districts urging the authorities to take necessary action against those involved in the multi-crore investment scam.
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