COIMBATORE: The Coimbatore city crime branch police have arrested a couple involved in an ATM franchise scam that promised a steady income for investors. The police said A Duraisamy, 46, of Pallipalayam in Erode district and his wife Ramya, 41, were running a firm named iZET e-payments Pvt Ltd near Nava India in Coimbatore. They marketed a scheme for a white label ATM franchise on social media platforms. White label ATMs are automated teller machines owned and operated by non-bank entities.After seeing the advertisement on social media, more than 50 individuals contacted the firm using the mobile number mentioned in their ads. The company representatives explained to the people that they had three schemes with investments of Rs 3 lakh, Rs 5 lakh, and Rs 10 lakh. They also stated that customers could easily withdraw money from their bank accounts by scanning a QR code using the machine they provide.The representatives promised the investors that the ATM machines would be delivered within 45 days after the investments. By taking an ATM franchise, they could earn a minimum of Rs 35,000 per month. Since the schemes looked attractive, more than 50 investors from Tamil Nadu and neighbouring states invested over Rs 2 crore in the firm. However, they did not receive the machines as promised, and their attempts to get back their investment failed.The investors from various districts in the state filed a complaint with the city police commissioner on Oct 13, seeking legal action against the owners of the firm. The city crime branch police registered a case and arrested Duraisamy and Ramya on Wednesday. They were remanded in judicial custody. Police said people who lost their money to this scam could come forward to lodge a complaint with the city crime branch police located at the police commissionerate.