Two held for cheating businessman of Rs 4.5 cr

CHENNAI: City Police's Central Crime Branch (CCB) arrested two businessmen for allegedly cheating another businessman of Rs 4.5 crore by claiming to buy medical equipments for the latter's firm.

E Harikumar (57) of Vadapalani who runs M/s PERS Enterprises Private Limited in Vadapalani approached the police claiming that he was defrauded by two men who received Rs 4.5 crore from him under the pretext of supplying medical equipment.

However, the equipments were never supplied and the businessmen refused to return the money after which Harikumar approached the police.

A case was registered by the EDF (Entrustment Document Fraud) wing of CCB which carried out investigations, and after finding the allegations to be true, police arrested S Sridharan (60) of Thiruvanmiyur and Kumar Kalaiyappan (56) of Palani, Dindigul district.

Investigation revealed that the accused Sridharan and Kumar Kalaiyappan had planned to deceive the complainant by taking money

They were produced before a magistrate and remanded to judicial custody.