Man held for cheating

A 57-year-old man was arrested by the Central Crime Branch police for cheating a man of ₹73.5 lakh, police said.

N. Pannerselvam from Alangudi told V. Kamaraja that he would arrange a loan of ₹40 crore if he paid ₹73.5 lakh in advance towards interest and processing charge. Mr. Kamaraja paid the amount in instalments from February 6 to March 19.

However, Pannerselvam did not arrange the loan and began threatening the complainant whenever he asked for the money to be returned. Based on a complaint from Mr. Kamaraja, Pannerselvam was arrested on Wednesday.