BM Reddy's bank accounts frozen, immovable properties attached for cheating Madurai engineering college chairman

CHENNAI: Chennai Police have taken steps to freeze 13 bank accounts and attached at least 15 immovable properties of BM Reddy of Vilivakkam who is involved in several financial crimes.
Recently, Reddy alias ‘Lion’ Muthuvel along with two of his accomplices were arrested for cheating a Madurai-based engineering college owner Mohammad Jaleel promising to get NRI funding of Rs 200 crore as a loan. Reddy had taken Rs 5.4 crore as commission from them and conned him.
Jaleel had met the prime suspect Muthuvel alias BM Reddy, who posed as a big financier, at his office in Villivakkam.
He sought Muthuvel to get a loan to develop his college business. Muthuvel demanded Rs 5.46 crore, a 2 per cent commission, for his service to initiate his work.
Though Jaleel honoured his promise, Muthuvel dragged instead of getting the loan as he had promised. Based on Jaleel’s complaint, the central crime branch sleuths registered a case and arrested BM Reddy, of Villivakkam, his accomplices M Sankar, 34, of Villivakkam, and D Issakiel Rajan, 37, of Katpadi in Vellore.
City police said that hitting such accused financially will deter them from continuing their con acts on their release from jail.