The Tirupur crime branch police arrested three Chennai-based realtors on Saturday for cheating two men of 2.22 crore.
Police said S Prakash, 43, a realtor from Tirupur, lodged a complaint on May 27, 2022, stating that two realtors Jaganathan from Periyapalayam and Jayaram from Koolipalayam told him that a piece of 2.47 acres of land was up for sales at Periyapalayam and it belonged to M Shanmugasundaram of Vijayapuri Village in Erode district. They said the original documents for the land were missing and the owner had only a copy of them.
“Prakash decided to buy the land along with his friend K A Sangeetharajan. The deed was registered at the the Uthukuli sub-registrar office on May 11, 2022 and documents for money transactions totaling 1, 22, 79,000 were produced. They also paid 1 crore in cash to Jaganathan and Jayaram,” said a police officer.
Jaganathan and Jayaram employed three realtors R Parthasarathy, 71, from Meenambakkam, G Balasubramaniam, 39, and K Rangaraj, 41, both from Madambakkam, in Chennai. Parthasarathy impersonated as the original owner Shanmugasundaram and completed the transactions.
“When Prakash tried to erect a fence around the land, the original Shanmugasundaram produced the documents. Prakash realised that he was cheated,” the officer said.
Police arrested Jaganathan and Jayaram in June 2022 and they came out on conditional bail. On Saturday, they arrested the three men involved in the fraud in Chennai. They were produced before the Tirupur judicial magistrate court -2 and later they were remanded in judicial custody. They were lodged at the Tirupur district jail.
Police also froze a total of 40 lakh in the bank accounts of the arrested men.
Police said a special team was formed to nab three other people in connection with the case.