COIMBATORE: The city crime branch police arrested a 42-year-old man on Friday for cheating a businessman of 4.40 crore.
A police officer identified the arrested person as Saravanamuthukumar, of Karuvampalayam in Tirupur district. “He befriended D Prabhakar, 69, a businessman from Race Course, in 2007 through a common friend. In 2008, Saravanamuthukumar, along with his family members, approached Prabhakar with a business proposal and got him to mortgage his property with a promise to pay off the loan in a year.”
According to the officer, Prabhakar allowed Saravanamuthukumar and his family to mortgage his 4,797sqft residential building on Abdul Rahim Road at Red Fields for 2.50 crore.“However, they failed to pay off the loan, forcing the bank authorities to take steps to take possession of the mortgaged property. Prabhakar had no other option but to pay the loan amount with interest, which totalled 4.40 crore, to retrieve his property.”
Saravanamuthukumar, meanwhile, approached Prabhakar in May this year with a promise to pay back the whole amount and issued him several post-dated cheques, all of which bounced as there was no cash in the former’s bank accounts, the officer said.
Prabhakar subsequently approached the city crime branch police, who registered a case against Saravanamuthukumar and his family members under sections 120 B, 406, 420 and 506 (2) of the Indian Penal Code. They arrested Saravanamuthukumar on Friday. He was lodged in the Coimbatore Central Prison under judicial custody the same day. tnn
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A police officer identified the arrested person as Saravanamuthukumar, of Karuvampalayam in Tirupur district. “He befriended D Prabhakar, 69, a businessman from Race Course, in 2007 through a common friend. In 2008, Saravanamuthukumar, along with his family members, approached Prabhakar with a business proposal and got him to mortgage his property with a promise to pay off the loan in a year.”
According to the officer, Prabhakar allowed Saravanamuthukumar and his family to mortgage his 4,797sqft residential building on Abdul Rahim Road at Red Fields for 2.50 crore.“However, they failed to pay off the loan, forcing the bank authorities to take steps to take possession of the mortgaged property. Prabhakar had no other option but to pay the loan amount with interest, which totalled 4.40 crore, to retrieve his property.”
Saravanamuthukumar, meanwhile, approached Prabhakar in May this year with a promise to pay back the whole amount and issued him several post-dated cheques, all of which bounced as there was no cash in the former’s bank accounts, the officer said.
Prabhakar subsequently approached the city crime branch police, who registered a case against Saravanamuthukumar and his family members under sections 120 B, 406, 420 and 506 (2) of the Indian Penal Code. They arrested Saravanamuthukumar on Friday. He was lodged in the Coimbatore Central Prison under judicial custody the same day. tnn
We also published the following articles recently
Man arrested for cheating Coimbatore businessman of Rs 4.40 crore
The City Crime Branch (CCB) arrested S N Saravanamuthukumar, a conman who cheated businessman D Prabhakar of Rs 4.40 crore. Prabhakar lodged a complaint that his friend Senthil introduced Saravanamuthukumar and he approached a private bank for a loan. Saravanamuthukumar and his family failed to pay the loan and retrieve the property, leading Prabhakar to contact the police. Saravanamuthukumar was arrested by the CCB and remanded in custody.
The City Crime Branch (CCB) arrested S N Saravanamuthukumar, a conman who cheated businessman D Prabhakar of Rs 4.40 crore. Prabhakar lodged a complaint that his friend Senthil introduced Saravanamuthukumar and he approached a private bank for a loan. Saravanamuthukumar and his family failed to pay the loan and retrieve the property, leading Prabhakar to contact the police. Saravanamuthukumar was arrested by the CCB and remanded in custody.
Fine Future scam: Seven properties auctioned in Coimbatore for Rs 3.83 crore
Coimbatore district revenue officer auctioned seven properties connected to the Fine Future scam for Rs 3.83 crore. The properties belonged to Fine Futures India, Fine India Sales Private Limited, Best Way, and Way2success. The managing directors, Senthil Kumar and Vivek, were arrested by the Economic Offences Wing in 2013. The firm cheated investors with false promises of monthly payments and commissions. The auctioned properties include agricultural land in Tirupur district. The amount from the auction will be disbursed to the cheated investors. 90 properties have been auctioned so far, with 50 prime properties remaining in Coimbatore city.
Coimbatore district revenue officer auctioned seven properties connected to the Fine Future scam for Rs 3.83 crore. The properties belonged to Fine Futures India, Fine India Sales Private Limited, Best Way, and Way2success. The managing directors, Senthil Kumar and Vivek, were arrested by the Economic Offences Wing in 2013. The firm cheated investors with false promises of monthly payments and commissions. The auctioned properties include agricultural land in Tirupur district. The amount from the auction will be disbursed to the cheated investors. 90 properties have been auctioned so far, with 50 prime properties remaining in Coimbatore city.
ED attaches properties worth Rs 2.3 crore of IFS officer
The Directorate of Enforcement (ED) has provisionally attached properties worth Rs 2.03 crore belonging to IFS Neeharika Singh in connection with the Anee Bullion Industries fraud. Neeharika is the wife of ABI owner Ajit Kumar Gupta and is currently posted in Indonesia. The ED initiated an investigation in 2019 based on FIRs and complaints filed by UP Police against Ajit Kumar Gupta and others for cheating and fraud worth Rs 110 crore. The attached properties include bank balance, FDs, and agriculture land at Barabanki.
The Directorate of Enforcement (ED) has provisionally attached properties worth Rs 2.03 crore belonging to IFS Neeharika Singh in connection with the Anee Bullion Industries fraud. Neeharika is the wife of ABI owner Ajit Kumar Gupta and is currently posted in Indonesia. The ED initiated an investigation in 2019 based on FIRs and complaints filed by UP Police against Ajit Kumar Gupta and others for cheating and fraud worth Rs 110 crore. The attached properties include bank balance, FDs, and agriculture land at Barabanki.