Man loots Rs 1.25 crore via fake rental deals in Chennai, arrested

CHENNAI: A 43-year-old man was arrested on Friday for allegedly cheating more than 15 people of Rs 1.25 crore by offering fake rental and lease agreements for properties in and around Porur. The suspect, Srivaths of Gerugambakkam, was picked up by the Moulivakkam police after the victims traced him using CCTV footage and vehicle details. Police said Srivaths uploaded listings for rent, lease and sale on various online portals, using photographs of an apartment he owned in Moulivakkam to make the offers appear genuine. He allegedly collected Rs 5 lakh to Rs 10 lakh from each victim as advance, promising vacant possession on fixed dates. To win their confidence, he allegedly assured victims that he trusted them and did not count the cash. Some of these interactions were recorded on video. Days before the handover, he switched off his phone and vacated his residence. The victims later tracked him to Mangadu, where he had purchased a new house, and alerted the police. Initial inquiries suggest he has carried out similar frauds in Avadi and nearby areas. A case has been registered for cheating and criminal breach of trust.