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Post By : Diamond World News Service On 25 January 2008 12:00 AM
A Chennai-based businessman, Gautamraj Surana, 52, was arrested for cheating a number of traders in excess of Rs.400 crore ($90 million) through an online gold trading scheme.%%Surana, who operates an online gold business, was apprehended on a complaint by a jeweller Pradeep Jain who alleged that Surana had borrowed Rs.1.25 crore ($282,400) from him to purchase gold, but failed to return the money.%%Further investigations revealed that the suspect has a prior case pending against him, where he stands accused of cheating another person of Rs.4.3 crore ($972,000) in the gold business, and had mobilised a total of over Rs.400 crore ($90 million) from various people.%%Surana was remanded to 15 days judicial custody, but a search has been initiated for his three brothers.

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