Bank’s ex-exec cheats bizman of Rs 2.8 cr assuring cloth brand outlets

CHENNAI: A 32-year-old former bank executive was arrested by the Entrustment Document Fraud (EDF) Wing of Chennai Police’s Central Crime Branch (CCB) from Mumbai for allegedly cheating a businessman in Mogappair of around Rs 2.8 crore, by promising to get him franchise outlets of popular clothing brands.

The suspect, Prathik Radhakrishnan, was working as an assistant manager with a nationalised bank in Chennai and was dismissed from the job. He later shifted to Mumbai, a police officer said. In 2019, Prathik got acquainted with MS Rajendran, a city-based businessman, and had promised to get him a franchisee license for famous clothing brands like Van Heusen, Louis Phillippe and Allen Solly.

To convince him, Prathik provided agreement copies with forged logo, seal and signatures of top executives of Aditya Birla group. Believing him, the businessman transferred Rs 2.8 crore to him over several transactions.

However, since there was no progress even after two years, Rajendran demanded his money back, after which Prathik allegedly threatened him, police said. “Meanwhile, the suspect cited COVID lockdown and other excuses for not facilitating the deal,” a police officer said.

Rajendran filed a complaint with Chennai Police after which the EDF wing took over the investigation and arrested Prathik. Police said he had cheated several persons after receiving money on the pretext of facilitating to get a licence from the popular firms and other institutions. He was produced before a magistrate and remanded to custody.