Tamil Nadu - Chennai   

Five persons held for fraud

CHENNAI: Five persons who promised to arrange a loan of Rs. 15 crore to a Mumbai-based businessman and who cheated him after taking Rs. 26 lakh as advance interest were arrested on Wednesday.

According to police sources, V.R.B. Krishnan Moorthy (49) of Navi Mumbai had lodged a complaint with Commissioner of Police K. Radhakrishnan that R. Jayakumar (47) of Otteri, S. Alex Raja alias Das (33) of Manai Pudur, A. Bashir (40) of Royapettah, R. Kutty (37) of Moolakothalam and K. Pradeep (29) of Thiruvananthapuram had promised to get him Rs. 15 crore as loan through a source.

They took Rs. 26 lakh as advance interest for three months and took signatures on several documents.

However, the loan was not arranged for long. A special team formed to investigate the case arrested the five accused who were produced in a city court and remanded to judicial custody.

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