Accused held in Rs 3.65 cr cheating case over revocation of power of attorney
The complainant, Akilandeswari (37), runs a rice and cashew export business under the name ‘Sri Angala Parameswari Associates’. The accused, Muralidharan had approached the complainant through an acquaintance and borrowed Rs 70 lakh as loan, the police said.
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CHENNAI: Central Crime Branch (CCB) of the city police on Friday arrested a 52-year-old man, who was absconding in a cheating case. Police had already arrested a 66-year-old man, Muralidharan, for allegedly cheating a businesswoman of Rs 3.65 crore in the case.
The complainant, Akilandeswari (37), runs a rice and cashew export business under the name ‘Sri Angala Parameswari Associates’. The accused, Muralidharan had approached the complainant through an acquaintance and borrowed Rs 70 lakh as loan, the police said.
In return, he mortgaged his land at Cheyyur to the complainant. Further, the accused introduced some of his friends to the complainant and she gave a loan of Rs 2.95 crore loan. In return for this, the accused executed a General Power of Attorney (GPOA) to sell their property worth Rs 3 crore to the complainant.
However, as time passed, the accused revoked the GPOA without the knowledge of the complainant and thereby cheated her to the tune of Rs 3.65 crore. Based on a complaint by Akilandeshwari, CCB registered a case and arrested Muralidharan. Another accsued, S Saikumar (52) of Anna Nagar who was absconding was arrested on Friday.