Investment Scam Unravels: BJP Functionary Arrested
The Allegations Tamil Nadu police have arrested T Dhevanathan Yadav, a prominent functionary of the Bharatiya Janata Party (BJP), for allegedly cheating over 140 individuals out of a staggering Rs 50 crore. Yadav, who serves as the chairman of The Mylapore Hindu Sasuvat Niti Ltd, a financial institution established in 1872, promised attractive interest rates ranging from 10% to 11% on investments. The Arrest Yadav was arrested on Tuesday from a hideout in Trichy and brought to Chennai, where he is being detained at the Economic Offences Wing (EOW) office for questioning. EOW officials have stated that he will be produced in court later in the day. The Financial Institution The Mylapore Hindu Sasuvat Niti Ltd, which has five branches in Chennai, has been at the center of controversy since June 6, when a group of aggrieved investors protested against the institution. The investors alleged that the institution refused to return their investments totaling Rs 525 crore. Protests and Controversy The protests on June 6 brought attention to the alleged fraudulent activities of the institution. The investors claimed that they were promised attractive interest rates, but the institution failed to deliver on its promises. Political Connection Yadav contested the last parliamentary election from the Sivaganga constituency on a BJP ticket. The party has yet to issue a statement on the matter. Investigation and Next Steps The police investigation has uncovered evidence of alleged cheating and fraud, leading to Yadav’s arrest. The EOW officials have assured that a thorough investigation will be conducted, and those found guilty will be brought to justice. Conclusion The arrest of T Dhevanathan Yadav has sent shockwaves through the state, highlighting the need for greater vigilance and regulation in the financial sector. As the investigation continues, it is essential to ensure that justice is served, and those responsible are held accountable for their actions.
