CHENNAI: The CBI on Monday arrested an accused in a Rs 4.66 crore bank fraud case, nearly nine years after he went into hiding. The accused, M Naga Kumar, had been absconding since the case was registered in 2015. He was traced to the city, where he was operating under the name ‘Tamil Selvan’ using fake identity documents, sources said.
The case was registered on September 29, 2015, based on a complaint from Indian Bank’s Chennai North Zone against K Rajendran, proprietor of Sri Sai Baba Real Estates and Constructions, chartered accountants Sarathy and Balu, and others, including unknown public servants.
According to the CBI, the accused cheated the bank of Rs 4.66 crore by submitting forged documents to obtain home loans. Naga Kumar was among the beneficiaries of the fraudulent loans.
A chargesheet was filed on March 14, 2017, against 33 individuals, including Naga Kumar. He had been evading arrest since then. CBI officials said that with continuous effort, they traced the accused. He was found to be living in Chennai under the assumed identity of Tamil Selvan, having altered his name and documents.
Following his arrest, Naga Kumar was produced before a court and remanded in judicial custody.