The Central Crime Branch (CCB) officers have arrested a 38-year-old man who has been accused of forgery and is also wanted by the CBI in connection with a car loan bank fraud case worth Rs 6.71 crore.
G Kamalakannan
Chennai:
His arrested came nearly a year after Jebarathinam (45) of Tirunelveli, owner of Sancia Imports and Exports lodged a complaint against Kamalakannan. Jebarathinam claimed that Kamalakannan cheated him of Rs 1.83 crore by making him obtain loan from banks on the security of non-existent lands to help him in his business plans.
Kamalakannan is also the main accused in a two-year-old case being investigated by CBI in which he created fake documents in connivance with the then senior branch manager Rajendran of Syndicate Bank, Teynampet, to get loans for used cars. This had cost the bank Rs 6.71 crore.
A CCB officer told DT Next that Kamalakannan worked in a private bank between 2000 and 2003 when he learnt of the loopholes in loan sanction process and used it to cheat banks. “He would never get involved with the transactions directly and always send an impersonator for the job. In exchange, he would give them a commission,” said the officer. “Even Bank officials have worked for him for a commission. He remained untraceable as he had been hiding in places such as the Andaman Islands,” added the officer.
Kamalakannan had been remanded in judicial custody till December 3 and the CBI is expected to make a formal arrest on Tuesday.
The accused G Kamalakannan alias G K Kannan, a resident of Kodungaiyur, used impersonation and document forgery to cheat several businessmen and banks of more than Rs 150 crore and led a luxurious life with expensive cars and flight sojourns, said CCB sources from anti-forgery wing. He has been remanded in judicial custody on Monday.
His arrested came nearly a year after Jebarathinam (45) of Tirunelveli, owner of Sancia Imports and Exports lodged a complaint against Kamalakannan. Jebarathinam claimed that Kamalakannan cheated him of Rs 1.83 crore by making him obtain loan from banks on the security of non-existent lands to help him in his business plans.
Kamalakannan is also the main accused in a two-year-old case being investigated by CBI in which he created fake documents in connivance with the then senior branch manager Rajendran of Syndicate Bank, Teynampet, to get loans for used cars. This had cost the bank Rs 6.71 crore.
A CCB officer told DT Next that Kamalakannan worked in a private bank between 2000 and 2003 when he learnt of the loopholes in loan sanction process and used it to cheat banks. “He would never get involved with the transactions directly and always send an impersonator for the job. In exchange, he would give them a commission,” said the officer. “Even Bank officials have worked for him for a commission. He remained untraceable as he had been hiding in places such as the Andaman Islands,” added the officer.
Kamalakannan had been remanded in judicial custody till December 3 and the CBI is expected to make a formal arrest on Tuesday.