The victim, G Balaji of Palavakkam, who runs a chemical manufacturing unit and a poultry farm, was allegedly approached by D Ramesh Babu of Anna Nagar East in June to sell his land measuring about 20,000 sqft in Injambakkam. Balaji, who decided to buy the land along with Vijay Hinduja, paid Rs 2.50 crore on June 19 to Ramesh Babu, who claimed that he was a non-resident, to clear the existing loan on the property. 

The complainant later paid Rs 50 lakh in July and another Rs 2.5 crore in September. However, Ramesh Babu remained unreachable since then and once the victims booked for land registration at a sub-registrar and had to cancel since Ramesh Babu did not arrive. 

Since Ramesh Babu was not found in the address given by him, Balaji approached the Central Crime Branch and the entrustment document fraud wing has registered a case. A hunt has been launched for the suspect.