CHENNAI: A senior official of a leading housing construction firm was arrested here on Tuesday for allegedly swindling nearly `2.15 crore paid by customers for booking apartments.
Police said E Senthil Kumar, 35, of Chetpet, the vice president of the firm and his four associates and former employees-- M Jayaprakash, 37, of Anna Nagar, R Venkitesan, 30 of Kolathur, A Raghu, 36, MMDA Colony and M Thiagarajan, 37 from Mogappair, were arrested.
Investigations revealed that Senthil allegedly collected liquid cash from customers who booked apartments but never remitted it with the accounts department and issued fake receipts. Even if the customers wished to pay by cheque, Senthil insisted to pay in cash so that he can easily take it out the money.
He had been associated with the company for the past 14 years and had been drawing an annual pay package of `50 lakh, sources said. He represented the company in a dozen foreign countries where it had presence.
All the five arrested were produced before a Magistrate Court and remanded in judicial custody.