PMK founder S. Ramadoss on Thursday blamed police inaction for continuing cases of deposit frauds.
In a statement, he expressed shock over the recent incidents, where depositors were allegedly cheated to the tune of about ₹8,625 crore. He pointed out that deposit frauds have been happening for the past 30 years. While 10% can be attributed to lack of awareness among members of the public, 90% was due to the lax attitude of police, he said.
Mr. Ramadoss noted that the finance companies involved in the recent frauds were in existence for long and questioned why the police had not taken action against them. He also said police had not been able to recover the entire amount in the frauds, which have occurred in the past 30 years.
They [police] should have created awareness [of such frauds] among members of the public and they have failed in their duty, Mr. Ramadoss alleged.
Mr. Ramadoss also urged for booking cases under stricter sections and seizing the assets of the financial firms.
The Centre and state government should also come forward to investigate whether the deposited money was used for money laundering, he added.
