Two booked for cheating businessman of ₹60 lakh in Coimbatore
Police in Coimbatore have registered a case against two individuals accused of cheating a businessman out of ₹60 lakh. The suspects allegedly promised to sell property they did not have the authority to transfer and subsequently intimidated the victim.
Why it matters
This incident underscores the risks associated with real estate transactions and the importance of verifying legal documentation before transferring large sums of money.
The Thudiyalur police registered a case against two persons on charge of duping a real estate businessman of ₹60 lakh, allegedly by promising to sell a property in Coimbatore. Real estate broker Saravanan of Edayarpalayam and Venkatachalapathy of Peelamedu were booked based on a complaint lodged by V. Jeganathan of G.N. Mills in the city.
Mr. Jeganathan alleged that Sarvanan introduced him to Venkatachalapathy. He alleged that the accused claimed to have the authority to sell several valuable properties belonging to one Narayanasamy Naidu through a will and offered to sell about eight acres of land at Sivaram Nagar.
The complainant stated he transferred ₹10 lakh to Venkatachalapathy’s bank account on January 20 this year, believing their representations and documents shown to him. He claimed that ₹50 lakh was later given to the same person in cash as advance.
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