Coimbatore: Vimal Kumar hails from the Sundarapuram area of Coimbatore. Vimalkumar, who runs the YouTube channel `Mr.Money ‘, runs Alpha Forex Markets. He trades in Forex, the stock market, cryptocurrencies and invests in it.
He has traveled not only through YouTube but also to Chennai, Madurai, Trichy, Thanjavur, Tirunelveli, Salem and Ramanathapuram to meet people and invest directly.
As a result, if an investor invests Rs 1 lakh, he is expected to pay Rs 1.80 lakh within a year. After this you said that if someone adds someone to the investment you will also get a commission.
Based on this, more than 1000 people across Tamil Nadu have invested crores of rupees in Vimal. Investors complained that some days went well and Vimalkumar did not pay as he had said before.
Vimalkumar went missing last year. The victims protested that Vimalkumar and his associates had embezzled more than Rs 30 crore. Murugan from Ramanathapuram Paramakudi area has invested Rs 16 lakh in Vimal.
However, he lodged a complaint with the Coimbatore Economic Crimes Division with the police alleging fraud in not paying the amount.
According to the complaint, Vimalkumar and his wife Rajeswari have been charged under 4 sections. Police also raided several places where they had intervened. A large number of documents and materials are said to have been seized.
We are conducting further investigation and gathering evidence and arrests will be made soon, police said.