Kaushik A Palicha of Ramcharan Pvt Company, a chemical distributor, came across an advertisement in the newspaper offering huge loans for business expansion, and believing it, the victim allegedly approached Ganpath Financial Services in Porur.
However, Karthikeyan, managing director of the firm, demanded a payment of Rs 1.15 crore as processing fee to release the loan and Kaushik transferred the money to the bank account of a company named Sagayam Enterprises.However, the accused demanded additional Rs 73 lakh from Kaushik. Again Rs 45 lakh was extorted from Kaushik citing various procedures.
While one Thyagarajan of KKR Global Inc entered into an agreement with Kaushik to release the loan in three instalments, there were no signs of crediting the loan sum.When Kaushik confronted the accused, he was allegedly issued a cheque of Rs 2.88 crore which was dishonoured at the bank.Since the accused went into hiding and remained not reachable to the victim, Kaushik Palicha lodged a complaint at the CCB.
A case has been registered by the Entrustment Document Fraud under four sections and further investigation is on.Meanwhile, the bank fraud prevention wing of the CCB has arrested a 29-year-old woman in Delhi for cheating a senior citizen of Rs 2.06 crore. While a six-member gang had already been arrested in the case, Simranjith Sharma of Tilak Nagar was secured on July 24 and was brought to the city on Tuesday. She was remanded in judicial custody.