Coimbatore city police have arrested five members of a co-operative society and also recovered items stolen from an abducted and rescued businessman near Omalur from them, reports TOI.
M Vinodh, K Gunasekaran, J Thangamani, M Kalai alias Kalai Selvam, P Munniappan, all from Erode are members of a co-op society.
Investigation have revealed that the victim had audited the records of a co-operative society for real estate businessmen and had reported discrepancies. He had received threatening calls after he began to conduct audit in other branches of the society.
The victim, Johnco Federal, a real estate businessman, was abducted along with his friend Manoharan on Thursday by 10 members of a co-operative society at knifepoint after he refused to pay them Rs 2.5 crore.