A small-time, 52-year-old actor-cum-director of Tamil films was arrested for cheating a Delhi-based businessman of Rs 20 crore, the police said on Monday.
Identified as Dr. S Srinivasan, known as ‘Power Star’ to his friends, the accused has acted in as many as 12 Tamil films. He was allegedly the kingpin of an organised network of cheats who would con companies and individuals on the pretext of giving loans after hooking them through local contacts, said Harendra Kumar Singh, additional DCP (EOW).
“In December 2010, Dr. Srinivasan and his aides allegedly approached the complainant’s company and presented themselves as consultants who could help the company in obtaining a loan of Rs 1,000 crore,” said additional DCP Singh.
According to police, the complainant was taken to Chennai for a meeting with Srinivasan who, through fake bank statements, made him believe that he could be disbursed a loan of R1,000 crore in lieu of an upfront payment of Rs 5 crore.
The complainant paid the amount by a bank draft towards the refundable processing fee and entered a loan agreement for disbursing a loan of R1,000 crore on or before January 31, 2011. The loan was never disbursed.
“A case was registered. Investigation revealed that Srinivasan was involved in several other cases and had cheated many people by following the same modus operandi,” additional DCP Singh said.
Srinivasan, the police said, was found to be a qualified acupuncture doctor. He acted in Tamil Films such as Lathika, Anand Thullai, Laddoo, Indrasena among others. He also produced four Tamil films under his own banner called ‘Lathika films’.
Further investigation revealed that he had nine cases of cheating and criminal intimidation registered against him and currently under investigation in Delhi and by the central crime branch in Chennai.
“What came to light during investigation was that Srinivasan had used his ill-earned money in films,” Singh added.