Two men including the Panchayat Council Chairman arrested for defrauding a businessman by promising loans; Central Criminal Police takes action
Coimbatore: Coimbatore: The Central Criminal Investigation Department has arrested two men, including a Pudukkottai District Panchayat Chairman in connection with a fraudulent loan scam in Coimbatore. Raja (48) from the Pappanaickenpalayam area in Coimbatore, along with his friend Arjun have been providing cable TV connectivity in the area. He planned to expand his business and needed Rs. 50 crore. Following this, Raja contacted Panneer Selvam of Pachikottai Panchayat near Alangudi in Pudukkottai district who was introduced to him by Kumar from Chennai. Following this, Panchayat leader Panneer Selvam approached his friend Selvakumar who runs an export company in Tirupur, last January, to get a loan for Raja.
Panneer Selvam reportedly promised to get a loan of Rs. 50 crore and urged Raja to pay Rs. 22.5 lakhs first for the document verification cost and also said that after getting the loan, he had to pay a commission of Rs,. 15 lakhs. Believing this, Raja met Panneer Selvam and Selvakumar who came to Coimbatore on January 22 and gave them Rs. 25 lakhs. They said they would get him the loan in a few days, but failed to do so. A few weeks later, Raja met Panneerselvam and asked him to give him the loan to which Panneerselvam responded saying that the election rules were in force and hence promised to get him the loan after the election.
Following a complaint by Raja, Coimbatore District Crime Branch police have registered a case against Panneerselvam and Selvakumar Kumari for not issuing the promised loans. Meanwhile, Panneerselvam and Selvakumar were already arrested and lodged in the Coimbatore jail in a fraud case. Panneerselvam and Selvakumar have been arrested by the police and a warrant has been issued to them on charges of defraud. It has also been decided to take them into custody and interrogate them.
Police officials said, 'There are more than 25 fraud cases pending against Panneerselvam. Two cases under the Goondas Act have already been imposed on them.'
Panneer Selvam reportedly promised to get a loan of Rs. 50 crore and urged Raja to pay Rs. 22.5 lakhs first for the document verification cost and also said that after getting the loan, he had to pay a commission of Rs,. 15 lakhs. Believing this, Raja met Panneer Selvam and Selvakumar who came to Coimbatore on January 22 and gave them Rs. 25 lakhs. They said they would get him the loan in a few days, but failed to do so. A few weeks later, Raja met Panneerselvam and asked him to give him the loan to which Panneerselvam responded saying that the election rules were in force and hence promised to get him the loan after the election.
Following a complaint by Raja, Coimbatore District Crime Branch police have registered a case against Panneerselvam and Selvakumar Kumari for not issuing the promised loans. Meanwhile, Panneerselvam and Selvakumar were already arrested and lodged in the Coimbatore jail in a fraud case. Panneerselvam and Selvakumar have been arrested by the police and a warrant has been issued to them on charges of defraud. It has also been decided to take them into custody and interrogate them.
Police officials said, 'There are more than 25 fraud cases pending against Panneerselvam. Two cases under the Goondas Act have already been imposed on them.'