Powerstar Srinivasan dupes businessman of Rs 5 crore, arrested
News
oi-IANS
By Ians English
S
Srinivasan,
52,
a
resident
of
Chennai,
was
arrested
by
Delhi
Police
for
duping
a
Delhi-based
businessman
of
Rs
5
crore
on
the
pretext
of
facilitating
a
Rs
1,000
crore
loan
to
his
company,
police
said
on
Monday
(June
10).
He
was
taken
to
Delhi
from
Chennai
where
he
was
lodged
in
judicial
custody
in
another
cheating
case.
"Srinivasan
is
involved
in
nine
cases
of
cheating
using
the
same
modus
operandi.
He
was
in
judicial
custody
in
Chennai
from
where
he
was
taken
to
Delhi
on
a
production
warrant," Harendra
Kumar
Singh,
additional
deputy
commissioner
of
police
(Economic
Offences
Wing),
told
IANS.
"He
duped
a
Delhi-based
businessman
in
December
2010
on
the
pretext
of
helping
his
company
obtain
a
loan
of
Rs.1,000
crore," said
Singh.
The
businessman
lodged
a
complaint
with
Delhi
Police
in
January.
"In
his
complaint,
the
businessman
said
that
Srinivasan's
associates
approached
his
Delhi-based
company
M/s
Blue
Coast
Infrastructure
Development
Pvt
Ltd
as
consultants
who
could
help
his
company
get
a
loan
of
Rs
1,000
crore," Singh
said.
IANS
Continue
reading
the
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Victim
Paid
Rs
5
Crore
"The
businessman
met
Srinivasan
in
Chennai,
where
he
was
asked
to
pay
Rs
5
crore," Singh
said.
"The
victim
paid
Rs
5
crore
to
the
accused
and
he
was
promised
the
loan
before
January
31,
2011.
The
actor,
however,
neither
arranged
the
loan
nor
returned
the
money,"
said
the
officer.
Money
Funded
For
Films
"The
actor
had
used
the
money
to
fund
a
film," Singh
added.
Srinivasan
is
a
Tamil
film
actor,
director
and
producer.
He
is
also
an
acupuncture
doctor
by
profession.
Kingpin
Srinivasan
He
was
the
kingpin
of
an
organised
network
of
cheats
who
entice
companies
and
individuals
through
local
contacts
on
the
pretext
of
giving
loans.
Earlier
Complaint
Earlier
in
April,
Srinivasan
was
arrested
by
cops
in
Chennai
for
the
same
reason.
The
actor
was
arrested
on
a
complaint
from
one
person
named
PS
Ranganathan
of
Prakasam
district
in
Andhra
Pradesh,
a
police
release
said.
Powerstar
Srinivasan
However,
he
has
acted
in
12
Tamil
films
and
has
produced
four
films.
Srinivasan
had
last
featured
in
the
hit
Tamil
comedy,
Kanna
Laddoo
Thinna
Aasaiya
and
Onbathula
Guru.