Central Crime Branch (CCB) of Madurai City Police on Tuesday arrested one S. Alagarsamy alias Raja (47), on charges of cheating a cracker businessman, T. N. Govindaraj of Sivakasi to the tune of ₹2,72 crore.
A team of officials led by Inspector of Police Pandian arrested Raja, a Bharatiya Janata Party cadre, and sent him to judicial custody.
The complaint is that Raja had befriended Govindaraj and had struck a business deal of buying one lakh cracker gift boxes each at a cost of ₹1,000 in 2014.
Meanwhile, he took a loan of ₹1.42 crore from Govindaraj and also bought crackers worth ₹1.30 crore by executing a bond in October 2015 with a promise that he would return the amount by April 2016. However, after he failed to return the money, Govindaraj lodged a complaint with the CCB following which a case was registered in November 2019.
Along with Raja, 28 others, including his younger brother, S. Ramesh Kumar (37) and his company’s manager S. Sundarajaran (62) were booked for cheating, criminal breach of trust, criminal conspiracy and criminal intimidation..
While Ramesh Kumar and Sundararajan were arrested on November 27, 2019, the Judicial Magistrate Court I had left them on bail after they promised to pay ₹1.50 crore and issued two cheques of ₹75 lakh each.
However, the cheques bounced.
Tiruchi City Police has also booked Raja, who also runs Elfin E-com private limited, in a different cheating case.
