Madurai, 29 Aug — Nearly 5,000 people, predominantly women from Melur taluk and neighbouring villages, gathered at a marriage hall in Melur and later blocked the national highway demanding recovery of money and police action after an alleged mobile app investment fraud, police and complainants said.
Alleged scheme promised quick, dollar-denominated returns
Victims said agents recruited investors from villages in and around Melur, including Kattayampatti, Kottanathampatti, A. Vallalapatti, Ayyapatti and Melavalam. Complainants alleged they were persuaded to download an application called FQL Exchange (fqlin.com) and invest lump sums such as ₹50,000, which the app showed as a credit of $500 with daily bonuses.
- Initial returns recorded on the app encouraged further investment and word-of-mouth referrals, according to several complainants.
- Agents are said to have used local slang to gain villagers' trust, easing recruitment of investors.
- Police estimate potential losses could exceed ₹100 crore across Madurai and neighbouring Sivaganga district.
One woman who identified herself as Kamaladevi, from a village near Melur, said she had delayed joining the scheme but finally invested after pledging jewellery. “Many women pledged their jewellery or borrowed money at high interest rates and invested,” she said, according to reporting. Another complainant described the returns as similar to a plotline from the Tamil film Sathurangam.
“The agents helped us download the application and asked us to invest ₹50,000. The amount was then credited to our account as $500, with a daily bonus between $3 and $5,” a complainant said.
Public protest and blockade
After assembling in large numbers at a Melur marriage hall to lodge complaints, the crowd staged a road blockade on the national highway on Friday evening, officials said. The demonstrators demanded recovery of invested funds and immediate legal action against the operators and local agents believed to have promoted the scheme.
| Detail | Reported figure |
|---|---|
| People who gathered at marriage hall | Nearly 5,000 |
| Typical investment per person | ₹50,000 |
| App credit displayed | $500 |
| Estimated potential loss | Over ₹100 crore |
Police action and ongoing probe
Senior police sources said investigations have been initiated and that the probe will examine the app, the payment trail, role of local agents and the network spanning Madurai and Sivaganga districts. The police source told reporters that agents reportedly promised doubling of money in 45 days and offered daily bonuses; in some cases, a referral of new members attracted higher daily credits, described by victims as up to $6–$7 (about ₹700).
Authorities have yet to provide a comprehensive loss statement; the figure of ₹100 crore is an early police estimate based on complaints received so far. Investigators are expected to record statements from organisers, agents and investors and to pursue electronic evidence from the application and associated payment gateways.
Local leaders and residents expressed alarm at the scale of the alleged fraud and the socio-economic impact on rural households, many of which reportedly secured funds by selling assets or borrowing at high interest rates. Community activists and some victims warned of further protests unless prompt action and compensation mechanisms are announced.
Police urged victims to file formal complaints at the Melur station so that individual cases can be included in the investigation and legal proceedings can follow. The probe remains active and more details are awaited as authorities examine digital records and financial transactions linked to the app.
Reporting is based on local police statements and complainants’ accounts provided to regional media.
