Tamil Nadu's 'gold man' held for cheating Bengaluru businessman of Rs 7 cr

Bengaluru: Bengaluru Central Crime Branch police arrested Tamil Nadu's 'gold man' and politician, A. Hari Nadar for running an inter-State organised racket and cheating a Bengaluru businessman of a whopping sum of Rs 7.2 crore. The police have seized 3,893 gms of gold ornaments valued at more than Rs 2 crore and Rs 8.76 lakh cash from him besides seizing his MUV vehicle.

The CCB police arrested Nadar aka Hari Gopalakirshna Nadar from a resort in Kerala on Wednesday whereas the police had already arrested his Kerala-based accomplice Ranjit Panikkar on April 7 and during interrogation he had spilled the beans about Nadar's modus operandi. According to the press note by the CCB, Nadar used to pick businessmen who wanted huge loans running into hundred crore and above.

The complaint filed by Shastri stated that Nadar invited them to meet in a Kerala resort, who were in search of a loan of Rs 360 crore at a 'cheaper interest rate'.

"Nadar invited them to resort on multiple occasions and finalised the deal by getting them loan sanctioned at an interest rate of 6 per cent but on a condition that he must get paid two per cent commission which works out to a whopping Rs 7.2 crore," the complaint stated.

The complaint added that Nadar showed Bengaluru businessman the demand draft of Rs 360 crore and asked him to immediately transfer Rs 7.2 crore to his account.

"Complainant transferred money and took the possession of the DD but he realised that it was a fake, when he submitted it to the bank to encash," the police said. IANS