Coimbatore Crime Branch Nabs Trio in Multi-Crore Real Estate Fraud Case
In a significant crackdown, the Coimbatore district crime branch police arrested three family members on Friday for allegedly orchestrating a sophisticated fraud scheme that duped a real estate businessman of a staggering Rs 2.5 crore. The arrested individuals include a 27-year-old man, his 44-year-old mother, and his 24-year-old sister, highlighting a coordinated family effort in the criminal enterprise.
Details of the Arrested Individuals and Their Connection to the Victim
The police have identified the accused as M Deepak, aged 27, from Pattanam near Sulur, along with his mother, Baby Shalini, and his sister, M Reshma. The victim, S Ravi, a 56-year-old real estate businessman from Kancheepuram, was previously acquainted with Deepak's father, Muthu, who passed away in 2022 due to health-related issues. This personal connection played a crucial role in the unfolding of the fraudulent activities.
The Elaborate Fraud Scheme Involving Fake RBI Documents
Following his father's death, Deepak approached Ravi with a fabricated story. He falsely claimed that his deceased father had received a massive sum of Rs 300 crore from the Reserve Bank of India (RBI). Deepak asserted that he needed immediate funds to pay mandatory taxes to withdraw this alleged inheritance from the RBI. To lend credibility to his claims, he presented counterfeit documents purportedly from the RBI, which indicated that Rs 300 crore had been sanctioned in his father's name.
In a tempting offer, Deepak promised Ravi a 30% commission from the Rs 300 crore if he assisted in covering the tax payments. Trusting the fake documents and the promise of a substantial return, Ravi transferred a total of Rs 2.5 crore in multiple instalments between 2022 and 2024. The funds were directed into the bank accounts of Deepak, Baby Shalini, and Reshma, implicating all three in the financial deception.
Deceptive Tactics and Threats Used to Prolong the Fraud
As time passed and Ravi did not receive the promised commission or his money back, he began to question Deepak. In response, Deepak employed a series of false excuses to delay repayment. He alleged that the process was still underway and provided detailed but fictitious accounts of where the money had gone. According to police reports, Deepak claimed to have paid Rs 67 lakh to a Union minister, Rs 50 lakh to a governor, and Rs 27 lakh to the RBI governor as part of the supposed transaction process.
When Ravi persisted in demanding his funds, Deepak further misled him by stating that the authorities had initiated a Real Time Gross Settlement (RTGS) and that the money would be credited shortly. Beyond these fabrications, Deepak resorted to intimidation tactics. He allegedly threatened Ravi with severe consequences, boasting of his connections with high-ranking police officials and politicians, and outright refused to return the money, exacerbating the victim's distress.
Police Intervention and Legal Proceedings
Frustrated and fearing for his safety, Ravi finally lodged a formal complaint with the Coimbatore crime branch police on Thursday. Acting swiftly on the complaint, the police registered a case and conducted arrests on Friday morning. The trio was taken into custody and subsequently remanded to judicial custody, marking a decisive step in the investigation.
This case underscores the risks associated with financial transactions based on unverified claims and highlights the importance of due diligence. The Coimbatore police's prompt action serves as a warning to potential fraudsters while offering some relief to victims of such elaborate scams.
