Builder cheated of ₹2.62 cr. on promise of ₹100 cr. loan

The Entrustment Document Fraud (EDF) wing of Central Crime Branch has arrested a local politician in Villivakkam who allegedly cheated a leading builder in the city after receiving ₹2.62 crore as commission under the pretext of arranging ₹100 crore loan from an MP.

The suspect ‘Lion’ Muthuvel, 42, is a resident of Indira Nagar, and deputy secretary of local unit of the DMK. Sources in the CCB claimed that he previously had criminal cases against him.

Sources said last year, through a middleman, Muthuvel was introduced to the builder in New Delhi. He pretended to be highly influential among MPs, MLAs and top officials in Chennai. Impressed, the builder approached Muthuvel for a loan of ₹100 crore for his new project in Rajasthan. The latter also agreed and received ₹10 lakh advance immediately. Later the suspect sent his men to Rajasthan for site inspection. On their return, he told the builder that he was impressed and was ready to sanction the amount. He received ₹2.52 crore through RTGS transfer from the builder as commission. The suspect asked the builder to come to Poes Garden for receiving ₹100 crore from the fictitious MP.

After a few days, the builder went to the office with gifts. The suspect collected them and left the place saying that MP was pre-occupied with another programme. Thereafter, he avoided meeting the builder. Muthuvel failed to get the loan and to refund the amount paid to him as commission. Last June, Nikil Khanna, a representative of the construction firm, lodged a complaint with the police commissioner.

A special team of police personnel, led by inspector S. Janakiraman on instructions of Additional Commissioner, CCB, C. Eswaramoorthy, rounded up the suspect Muthuvel, in one of his houses in T.Nagar. Muthuvel was produced before magistrate court and remanded in judicial custody. Sources said the police team had to face too many hardships before lodging him in prison.

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Printable version | Apr 6, 2020 11:44:11 PM |

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