A senior functionary of Tamilaga Vettri Kazhagam has been arrested in connection with an alleged financial fraud case involving more than ₹25 crore in Pudukkottai, police said on Monday.
The accused, identified as Saravanan, is a central district executive committee member of the party founded by actor-turned-politician Vijay. He hails from the Thiruvappur area of Pudukkottai city and was arrested by the District Crime Branch following multiple complaints from investors accusing him of cheating them by promising unusually high returns.
Allegations of collecting crores from investors
According to investigators, Saravanan allegedly borrowed large amounts of money from businessmen, private financiers and influential individuals in and around Pudukkottai over several years.
Police officials said he collected sums ranging from ₹30 lakh to ₹1.5 crore from different people, often assuring them of profitable investment returns. In some cases, he allegedly cited medical emergencies involving his mother and other personal hardships to convince lenders to part with money.
Authorities estimate that more than 100 people may have collectively lost over ₹25 crore in the alleged scam.
Victims told police they had been unable to reach Saravanan on his mobile phone for the past two weeks, prompting fears that he was attempting to evade repayment.
Several complainants also expressed concern that the accused might misuse the name of the ruling party to escape legal action amid the changing political landscape in Tamil Nadu.
Arrest after manhunt
Following a series of complaints submitted to the Pudukkottai district superintendent of police over the past 10 days, the District Crime Branch launched an investigation and tracked Saravanan to another state, where he was arrested.
He was later brought back to Pudukkottai for questioning.
Tension flared outside the superintendent of police’s office after news of the arrest spread, with more than 100 alleged victims gathering at the premises demanding strict action.
Some protesters reportedly shouted slogans and demanded that the accused be handed over to them, claiming they would “take care of him themselves.”
Police later dispersed the crowd and assured them that a formal case had been registered and that Saravanan would be produced before a court. Officials added that further custodial interrogation would be sought as part of efforts to trace the missing funds and recover money for investors.
Arrest comes days after Vijay becomes CM
The arrest comes only days after Vijay was sworn in as the chief minister of Tamil Nadu following a dramatic electoral breakthrough by TVK.
The party emerged as the single-largest formation in the 234-member Assembly but fell short of the majority mark. It later secured support from smaller regional parties and independent legislators to form the government.
The election result marked a major political shift in Tamil Nadu, ending decades of dominance by the DMK- and AIADMK-led alliances.
Comments are closed.