A 43-year-old man was arrested on Friday for allegedly cheating more than 15 people of Rs1.25 crore by offering fake rental and lease agreements for properties in and around Porur, police said.
The accused, Srivaths, a resident of Gerugambakkam, was arrested by the Moulivakkam police after the victims tracked him using CCTV footage and vehicle details.
According to investigators, Srivaths posted advertisements for rent, lease, and sale on various online property portals. To make the listings appear legitimate, he used photographs of an apartment he owned in Moulivakkam. He allegedly collected advance payments ranging from Rs5 lakh to Rs10 lakh from each victim, promising vacant possession on predetermined dates.
Police said the accused gained the victims’ trust by claiming he did not count the cash as a sign of goodwill. Some of these interactions were reportedly captured on video. However, just days before handing over the properties, Srivaths allegedly switched off his mobile phone and vacated his residence.
The victims later traced him to Mangadu, where he had purchased a new house, and informed the police. Preliminary investigations indicate that Srivaths may have carried out similar frauds in Avadi and nearby areas.
A case has been registered against him for cheating and criminal breach of trust, and further investigation is underway.
