Two arrested in financial institution fraud case

Two individuals have been arrested by the Central Crime Branch (CCB) in reference to a case the place the accused allegedly cast a doc for a property value ₹2.5 crore. The accused used a faux doc to safe a financial institution mortgage, and cheated the proprietor.

According to police, Abdul Khader, 65, of Guindy wanted cash for his daughter’s wedding ceremony. He approached his enterprise acquaintance, Vinayaka Acharya of Madipakkam, for monetary assist. Acharya allegedly promised to offer cash by pledging Khader’s property in Guindy as collateral. Under this pretext, he obtained a basic energy of lawyer in his title. Later, with out Khader’s information, he cast a “life certificates” in Khader’s title and bought the property to Sujatha of Salem.

Using the cast paperwork, the accused obtained a housing mortgage of ₹75.80 lakh from ICICI Bank, Avinashi department, and shared the cash amongst themselves. Abdul Khader lodged a grievance with the Greater Chennai Police Commissioner. Based on his grievance, a case was registered in 2023 by the Central Crime Branch.

During investigation, it was discovered that the accused Vinayaka Acharya, Siva, his spouse Sharmila, Sujatha, and Acharya’s spouse Datchayani — had conspired collectively to fraudulently pledge Khader’s property and acquire the financial institution mortgage.

The CCB arrested Vinayaka Acharya, 51, and Sujatha, 48, of Salem.