Sivakumar, proprietor of Achievers Group and Achievers Agri India Group, a finance firm at Sidhapudur has been accused of swindling 450 crores of public money.
The finance company had more than 1000 agents and many branches across Tamilnadu. The higher interest rates proposed by Sivakumar lured the public to invest in large numbers.
Right from last year, the agents were not paid their commissions on time, which created a suspicious feel about the firm. Shortly, the investors were panic-stricken to see the office locked and were unable to establish contact with Sivakumar.
Sivakumar has been making fake promises to the victims of returning their money in full. The frustrated agents marched towards the Commissioner office today to lodge a complaint against the fraudster.
They reported that he has looted close to Rs. 450 crores in whole, out of which 60 crores are from Coimbatore.
The finance company had more than 1000 agents and many branches across Tamilnadu. The higher interest rates proposed by Sivakumar lured the public to invest in large numbers.
Right from last year, the agents were not paid their commissions on time, which created a suspicious feel about the firm. Shortly, the investors were panic-stricken to see the office locked and were unable to establish contact with Sivakumar.
Sivakumar has been making fake promises to the victims of returning their money in full. The frustrated agents marched towards the Commissioner office today to lodge a complaint against the fraudster.
They reported that he has looted close to Rs. 450 crores in whole, out of which 60 crores are from Coimbatore.