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Two arrested for embezzlement

Staff Reporter

KARUR: Two persons were arrested on charges of embezzling Rs. 3.10 crore from financial companies in Karur. Acting on a complaint filed by A. Karuppannan of Kovai Road here the district crime branch registered a case against S. Subramani (40) of Mela Orathai near Attur and a few others. Subramani had been the managing partner in eight finance firms run by Karuppannan. Subramani and his relatives had embezzled amount to the tune of Rs. 3.10 crore while managing the finance firms. On the instructions of Superintendent of Police P. Nagarajan, crime branch DSP A, Manirathinam investigated the case. Police picked up Subramani and his accomplice Karthik Kumar at Neikarapatti in Namakkal district and remanded them to judicial custody.

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