Crime – Erode Online Trading Institute Owner Kidnapped, Rs 1 Crore Allegedly Extorted
Crime – Police in Tamil Nadu are investigating a suspected kidnapping and extortion case involving the owner of an online trading training institute in Erode district. Authorities say the victim, a 28-year-old entrepreneur, was abducted by a group posing as police officers and later forced to arrange a payment of Rs 1 crore for his release.
The case surfaced after the businessman filed a formal complaint at the Perundurai police station several days after the incident. Investigators believe the suspects may be linked to Chennai and are continuing efforts to identify and locate those involved.
Subheading: Kidnapping reported on Perundurai road
According to police officials, the victim, identified as K Gautham from Chennimalaipalayam near Perundurai, was intercepted on the night of February 25 while driving back home after work. He had been travelling along the road near Vaikkal Medu when a group of four men allegedly stopped his car.
The suspects reportedly claimed to be police officers. They forced Gautham out of his vehicle and placed him in another car. Investigators said the group then transported him toward the Vijayamangalam toll gate located on the Salem-Cochin national highway before driving in the direction of Coimbatore.
Police believe the victim was held inside a house in the Coimbatore region during the ordeal.
Subheading: Institute owner running online trading training
Gautham operates an institute called The Courage One Ventures in the Palayapalayam area of Erode. The training centre provides courses related to online share trading and financial market learning.
According to police sources, the institute has been functioning for about one and a half years and employs around 15 people. Students enroll to learn various aspects of online trading and financial market strategies.
Investigators are reviewing whether professional or business disputes linked to the institute may have contributed to the incident.
Subheading: Former employee under suspicion
Police said one possible angle in the investigation involves a former employee, identified as A J Manikandan, who is originally from Maduravoyal in Chennai. He had reportedly been responsible for recruiting students from Chennai for the institute.
According to investigators, Manikandan was dismissed from the company on February 20 due to unsatisfactory work performance. However, a sum of about Rs 8.5 lakh belonging to the company remained in his bank account.
The following day, Gautham and his younger brother Mithun reportedly travelled to Chennai to collect the money and later returned to Perundurai after receiving it.
Police are examining whether this development may be linked to the subsequent kidnapping.
Subheading: Threats and ransom demand
Authorities said the abductors allegedly threatened the victim the day after he was taken. The group demanded Rs 1 crore and warned him of serious consequences if the payment was not arranged.
During the captivity, the kidnappers reportedly claimed that they had also brought Manikandan to the same location. According to the complaint filed by Gautham, the group threatened to harm both men if their demand for money was not met.
Fearing for safety, Gautham contacted his younger brother and asked him to arrange the required amount.
Subheading: Money dropped at location near highway
Following instructions given by the suspects, Gautham’s brother reportedly placed the ransom money near a bakery along the national highway close to the SIPCOT industrial area in Perundurai.
Police said the gang collected the money from the location and then left with Manikandan. Shortly afterward, Gautham was reportedly released near a restaurant along the highway where his own vehicle had been parked earlier.
Subheading: Police investigation underway
Perundurai police registered a case under several sections of the Bharatiya Nyaya Sanhita related to kidnapping, wrongful confinement, criminal intimidation and extortion.
Investigators said they have taken Manikandan into custody for questioning as part of the probe. Officers are examining his possible role in the incident while also attempting to trace the remaining suspects believed to be involved.
“We have certain doubts regarding his involvement, and the victim has also expressed suspicion. We are questioning him and continuing to search for others connected to the case,” a police officer involved in the investigation said.
Authorities stated that further action will depend on the outcome of the ongoing inquiry.