The Hindu : Tamil Nadu / Chennai News : Industrialist held on charges of cheating

Online edition of India's National Newspaper
Monday, Jan 22, 2007
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Tamil Nadu

Tamil Nadu - Chennai

Industrialist held on charges of cheating

Staff Reporter

Merchant says he lost Rs.1.25 crore

Chennai : The Central Crime Branch (CCB) police arrested an industrialist on charges of cheating and breach of trust and a court remanded him to judicial custody on Saturday.

According to the investigation team, a case was registered against Goutam Raj Surana (52) and his associates following a complaint from a bullion merchant Pradeep Jain of Myladuthurai with the Commissioner of Police Letika Saran.

In his petition, the complainant alleged that he had invested Rs 1.25 crore in the online gold commodity trading business operated by Surana's firm, but got back neither gold nor the money.

Police said that they picked up Mr Surana from his office in Whites Road. Based on his confession, a statement was recorded.

After registering a case under Sections IPC 406 and 420, he was produced before the George Town Court, which remanded him to 15 days judicial custody.

A press note issued here on Sunday stated that the CCB police had received a similar complaint from Kishan Lal of Chennai in January 2006 that he was cheated of Rs 4.65 crore by Mr Surana and others. Further investigation is on.

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