The Economic Offences Wing (EOW) of the police have booked a couple on charge of cheating a retired government official in an alleged investment scam.

The police said Vinu Valsan and his wife Rithu of Thrissur district in Kerala were booked based on a complaint lodged by a 61-year-old man from Vellalore in the city.

According to the police, the couple ran RV Fabtex Private Limited at Papanaickenpalayam in the city. The complainant alleged that the accused promised him a monthly interest of 18% for an investment of ₹1 lakh and return of the principal after six months. He invested ₹1 lakh in July 2023 and received interests as promised, the police said. Thereafter, he and his children invested ₹2 lakh in October 2023, interest payment for which stopped by December. The complainant alleged that he found the company’s office shut and came across other investors, who were also allegedly defrauded.

The police have launched an investigation based on the complaint from the retired government official.