The Kuttampuzha police on Friday arrested a person on charge of cheating. The accused is Joy Kuriakose, 59, of Kuthukuzhi in Kothamangalam.
Joy was accused of pledging his brother-in-law’s property for availing a loan of ₹77 lakh in the name of 16 different persons from the Vadattupara Cooperative Bank from 2014. As he defaulted on repayment, the bank initiated measures to attach the property by which time his brother-in-law had expired. Joy’s wife filed a petition following which a case was registered invoking IPC Sections 120B (criminal conspiracy), 403 (dishonest misappropriation of property), and 420 (cheating and dishonestly inducing delivery of property).