CHENNAI: The Entrustment Document Fraud wing of the Central Crime Branch, Chennai, arrested three men for allegedly cheating a businessman to the tune of `4 crores under the pretext of securing a loan of Rs 100 crore.
The police identified the accused as Panneerselvam (43), Imtiaz alias Satish Kumar (37), and Pawan Kumar alias Ravi alias Niyamathullah (45). They were arrested based on a tip-off from a resort in Kovalam, a police source said. According to the police, the victim, Shyamal Chatterjee, runs a private energy company in Nagpur in Maharashtra. He was looking for investors.
The accused got information about him through their agents and contacted him. They promised Shyamal of securing a loan of Rs 100 crore from NRIs. He came to Chennai, visited their office ‘East Coast Properties’ on ECR and sealed the deal. The trio then asked him to pay Rs 4 crore as six months of interest for the loan. Shyamal paid the amount through online banking. He then went back to Maharashtra. After a few days, when the group stopped answering his calls, he got suspicious and lodged a police complaint.