Real estate broker held for cheating priest of Rs 48 lakh

Vincent (46) of Palani Andavar Koil street in Ayanavaram approached one Loganathan (53) of Mylapore, a real estate broker, in 2017 as he was in immediate need of money. As Loganathan promised Vincent to get a loan of Rs 20 lakh by pledging the latter’s ancestral property in Ayanavaram, he surrendered the land documents to him.

However, Loganathan and a few others sold Vincent’s property without his knowledge for Rs 48 lakh and registered the sale deed at the sub-registrar office in Anna Nagar. “Loganathan opened a bank account in Vincent’s name with his phone number and withdrew the cash,” the police said.

Vincent, who came to know about it months later, confronted Loganathan, but he allegedly gave only Rs 5 lakh and delayed the payment of the remaining sum.

After Vincent approached Kilpauk Deputy Commissioner Manoharan, Ayanavaraminspector Natarjan registered a case and arrested Loganathan. He was remanded injudicial custody on Saturday and a hunt has been launched for his accomplices.