CHENNAI: The Central Crime Branch (CCB) detained serial offender Muthuvel alias "Lion" Muthuvel and his associate under Goondas Act for allegedly cheating industrialists of several crores promising low-interest loans.

Muthuvel alias BM Chettiar of Villivakkam was arrested based on a complaint from a businessman, Manivannan, who was promised Rs 50 crore loan after paying Rs 2 crore advance. He allegedly cheated Manivannan and threatened him demanding additional money.

Muthuvel and his aide Jagan were arrested in Ongole, Andhra Pradesh, on October 20 and brought to Chennai. Officials said fraud cases involving more than Rs 100 crore were pending against them in various stations. Following recommendation by CCB, Commissioner A Amalraj ordered their detention under the Goondas Act.