The Tondiarpet police have arrested three individuals for allegedly defrauding businessman D. Easwar (48) of Rs29 lakh by promising to arrange a Rs5 crore bank loan.
The victim was first approached by his acquaintance F. Arokya Aloysius (38), who persuaded Easwar to invest Rs8.5 lakh in a real estate venture. Later, Aloysius introduced him to his associates: T. Kalpana alias Malathy (38), J. Kanagaraj (39), and another man known as Yogi.
The group claimed that Kalpana had the influence to secure a Rs5 crore loan from a private bank, luring Easwar into transferring more money. After collecting a total of Rs29 lakh, the accused failed to provide any loan, prompting the police to register a case and carry out arrests.
Authorities are continuing investigations to trace any additional accomplices and recover the defrauded amount.
