CHENNAI: Central Crime Branch (CCB) of the City Police arrested a 66 year old man for allegedly cheating a businesswoman of Rs 3.65 crore.

The complainant, Akilandeswari (37) who runs a rice and cashews export business - "Sri Angala Parameswari Associates".

The arrested person, S Muralidharan (66) had approached the complainant through an acquaintance and borrowed Rs 70 lakh as loan.

In return, he mortgaged his land property at Cheyyur to the complainant. Further, the accused introduced some of his friends to the complainant and she gave a loan of Rs 2.95 crore loan.

In return for this, the accused executed a GPOA (General Power of Attorney) to sell their property worth Rs 3 crore to the complainant.

However, as time passed, the accused revoked the GPOA without the knowledge of the complainant and thereby cheated her to the tune of Rs 3.65 crore.

Based on a complaint by Akilandeshwari, CCB registered a case and arrested Muralidharan on Monday.

He was produced before a magistrate and remanded to judicial custody.