The Tondiarpet police have arrested three individuals accused of defrauding a businessman out of Rs29 lakh after promising to arrange a Rs5 crore bank loan.
According to the police, D. Easwar, a 48-year-old businessman, was initially approached by his acquaintance, F. Arokya Aloysius (38), who convinced him to invest in a real estate venture. Easwar paid Rs8.5 lakh to Aloysius as part of the investment.
Later, Aloysius introduced Easwar to his associates, T. Kalpana alias Malathy (38), J. Kanagaraj (39), and another individual, Yogi. The group claimed that Kalpana had the influence to arrange a Rs5-crore loan from a private bank. However, after Easwar transferred more money, the loan never materialized, and the fraud was uncovered.
The police have arrested Aloysius, Kalpana, and Kanagaraj in connection with the fraudulent scheme. The investigation is ongoing, and police are working to trace the remaining suspects involved in the crime.
