Bizman loses Rs 1.2 cr to 5 conmen at Soudha

A gang of five used the corridors of power to con a businessman out of Rs 1.2 crore by promising him a commercial loan of Rs 100 crore.

Ramesh, a cashew nut businessman, badly needed a big loan for his enterprise. His business partner, Indira S, 45, from Coimbatore, Tamil Nadu, contacted the gang which claimed to know the high and mighty in the Vidhana Soudha. The gang promised to facilitate a commercial loan of Rs 100 crore.

Indira arranged for Ramesh’s meeting with the gang whose members were Ilamadi, Sundaram, Selvam, Ajay, and KK Shetty.

He met them on the first floor of the Vidhana Soudha on January 2.

The so-called brokers asked Ramesh to pay 1.12% of the loan amount as stamp duty and processing fee.

He readily agreed and paid them Rs 1.12 crore at a star hotel on MG Road.

The gang took the cash, the loan application form and supporting documents from Ramesh and left the hotel, saying the loan amount would be deposited soon in his bank account. The money never came. Ramesh waited for some days before contacting the brokers but they were not reachable. He then asked Indira to contact the brokers but she also failed to communicate with them.

Police suspect the gang had used the Vidhana Soudha to lure Ramesh.

They have summoned Indira for questioning to ascertain her links with the gang.