Trio dupes cotton trader of Rs 5.4 crore in TN, arrested in Maharashtra

A special team probing the case tracked the culprits in a house in Maharashtra after five months.
For representational purposes only
For representational purposes only(Express Illustrations)

TIRUPPUR: Three persons were arrested in Maharashtra for cheating a 32-year-old cotton businessman to the tune of Rs 5.40 crore in Tiruppur city last year.

The arrested fraudsters are Pankaj Agarwal, Ankush Chitlangiya and Rahul Sharma. They had targeted cotton fabric trader S Chetan Chokhani in December.

A special team probing the case tracked the culprits in a house in Maharashtra after five months. They were produced before the Magistrate at a court in Kalyan on the outskirts of Mumbai and were shifted to Tiruppur city on Saturday. They were remanded to custody on the same day, said a police release.

Chokhani has been running a business on Kongumain Road at MP Nagar in Tiruppur city for the past 10 years. He supplies goods to manufacturers and traders across India. Through a common friend, he got introduced to Pankaj Agarwal, Ankush Chitlangiya and Rahul Sharma who claimed to be doing business as a yarn and fabric buyer.

The trio convinced Chokhani to do business with them on credit terms. Based on these terms, Chokhani supplied goods worth Rs 10.04 crore in a span of six months in 2023. The trio made payments amounting to Rs 5.4 crore. Despite a request from Chokhani, the trio delayed the rest of payment and rejected his calls. Shocked by the act, Chokhani visited the location in Maharashtra and was shocked to find the facility closed.

Related Stories

No stories found.

X
The New Indian Express
www.newindianexpress.com