CHENNAI: The entrustment document fraud (EDF) wing of the Chennai city police have arrested one of the directors of a private firm for cheating a businessman of Rs 1.08 crore.
Complainant P Selvakumar of Saligramam runs a firm called Trade on Impex in the city. He struck a deal with Singapore-registered Ayyan Royal Impex PTE Ltd to export rice. Selvakumar received a contract for sending 286 tonne of rice to Singapore. The rice was exported in 11 containers.
The value of the rice exported was Rs 1.08 crore. Even after receiving the consignments, the Singapore firm failed to pay the money as per the deal. He filed a complaint at the city police commissioner’s office.
Inquiries revealed that the Singapore firm’s directors are Lingesh, his mother Kalyani and father Siva Kanthan. The police team led by EDF wing inspector R Sumathi arrested Linghesh, 26, from Pattukottai in Thanjavur.
The police brought him to Chennai. He was remanded in judicial custody.