Coimbatore: The Coimbatore Rural Police Crime Branch personal on investigating into a case of cheating on Thursday arrested five persons. They had cheated 22 farmers and the owner of a copra drying-cum-stock yard of Rs.1.46 crore.
On receiving the complaint from the victim the police initiated the investigation process and one of the accused was apprehended in September 2018. The accused was identified as R. Narayanasamy (38), a native of Gomangalam near Pollachi.
On further investigating into the case the investigators of the District Crime Branch found that in addition to the arrested accused there were more persons involved and their whereabouts were located and were arrested on Thursday.
The details of the arrested accused on Thursday are V. Sivakumar (41), N. Radhakrishnan (61), R. Manojkumar (25), and A. Sakthivadivel (52) from Kinathukadau, and K. Venugopal (50) from Puliyampatti, near Pollachi.
According to DCB officials, the 22 farmers handed over their coconuts to Premanand for drying into copra and storing it until the prices rose and they could sell it and earn a greater margin of profit. Meanwhile the accused approached Premanand and purchased the copra from him which was valued at Rs.2.18 Crore but instead paid Premanand Rs.72 Lakhs.
On the allegation put forth by Premanand that the accused used the money for betting in the IPL the police said that the matter will be investigated into.
Cases were filed against the five accused and they were arrested under Sections 420 (Cheating and dishonestly inducing delivery of property), and 406 (Punishment for criminal breach of trust) read with 34 (Acts done by several persons in furtherance of common intention) of the Indian Penal Code. The DCB Sub-Inspector Mr. P.A. Arun said that efforts were being undertaken to freeze the bank account of the accused.