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Van driver who flew high has hard landing, ends behind bars in cheating case
S Venkatramanan, 59, arrested by the Chennai police in Maharashtra recently, for allegedly cheating his clients to the tune of Rs 40 crore, was a school van driver. Then the real estate boom occurred, taking him to dizzying heights.
Chennai
A top police official, who was part of the investigation, said that after Venkatramanan entered the real estate business in 2005, he amassed wealth.
“He would buy land for a few lakh rupees and then sell it for crores. This made him rich enough to open offices in Alwarpet and T Nagar in the name of Dream Castle Service Pvt Ltd and start a helicopter renting firm, Indra Air Private Ltd, along with one of his partners. He used to park his helicopter at the Chennai airport,” said the official. He also owned a range of luxury cars, including a Jaguar, a BMW and Mercedes.
All that ended when Pradeep Kumar of West CIT Nagar filed a complaint that Venkatramanan cheated him to the tune of Rs 1.7 crore, after promising to buy a land for his real estate business in Karuneelam village, Kancheepuram district, Venkatramanan escaped to Maharashtra.
CCB sleuths learnt that Venkatramanan along with his partners cheated two more people of to the tune of Rs 35 crore. While police arrested his aides, Venkataramanan escaped to Maharashtra, where he started a logistics firm, with the help of his staff Ashwini Bhonsle. He used a satellite phone so that his location could not be traced. However, all his assets were attached, making it difficult for him to do any business.
Police said Venkatramanan admitted to his crime and expressed willingness to settle all his clients’ dues after selling his assets. Assistant Commissioner of Police Muthuvelpandi (CCB-EDF I) said that his assets will be evaluated soon. Venkatramanan’s parents, wife and three daughters live in Kelambakkam.
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