Two arrested in financial institution fraud case

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Two individuals have been arrested by the Central Crime Department (CCB) in reference to a case the place the accused allegedly cast a doc for a property value ₹2.5 crore. The accused used a faux doc to safe a financial institution mortgage, and cheated the proprietor.

In line with police, Abdul Khader, 65, of Guindy wanted cash for his daughter’s marriage ceremony. He approached his enterprise acquaintance, Vinayaka Acharya of Madipakkam, for monetary assist. Acharya allegedly promised to offer cash by pledging Khader’s property in Guindy as collateral. Below this pretext, he obtained a basic energy of lawyer in his identify. Later, with out Khader’s data, he cast a “life certificates” in Khader’s identify and bought the property to Sujatha of Salem.

Utilizing the solid paperwork, the accused obtained a housing mortgage of ₹75.80 lakh from ICICI Financial institution, Avinashi department, and shared the cash amongst themselves. Abdul Khader lodged a criticism with the Better Chennai Police Commissioner. Based mostly on his criticism, a case was registered in 2023 by the Central Crime Department.

Throughout investigation, it was discovered that the accused Vinayaka Acharya, Siva, his spouse Sharmila, Sujatha, and Acharya’s spouse Datchayani — had conspired collectively to fraudulently pledge Khader’s property and acquire the financial institution mortgage.

The CCB arrested Vinayaka Acharya, 51, and Sujatha, 48, of Salem.

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