Woman held for duping businessman of 16 cr

The arrested woman was identified as Subadra, a resident of Venkatesan Nagar in Tiruvallur. The CCB sleuths produced her in Egmore Court and secured a two-day custody to inquire her, said sources in the department. 

The police said that she had entered into a business agreement to procure and export corn with a wholesale dealer named Ramesh of Sastri Nagar in Chennai. She convinced him saying that she had close links with many farmers from whom she can procure corn at a cheaper price. 

They further noted that Ramesh transacted Rs 45.84 crore to Subadra’s account and she delivered corn products worth Rs 29.66 crore to Ramesh. The same was later exported to countries like Malaysia and Sri Lanka.  Later, she stopped sending the consignments to Ramesh citing some reasons. As she failed to send corn consignments and also refused to return him Rs 16.18 crore, Ramesh lodged a police complaint demanding to take legal action against Subadra.  

After a detailed investigation, the CCB confirmed that the woman has cheated him and arrested her.  She then was produced in the court. Based on a request from the investigators, the court granted two days custody of her.  “We need to find out what Subadra did with the money,” the police noted.