Inter-state gang kingpin arrested 

Bengaluru: An inter-state gang which had duped many businessmen of crores of rupees in various parts of India, including Karnataka, was busted with the arrest of the kingpin recently from Kovalam in Kerala, police said on Thursday.

According to police, Hari Gopalakrishna Nadar, who hailed from Tirunelveli along with his accomplice Rajith Panikker had recently contacted Venkat Mani Sastry, a Bengaluru based businessman and promised him a loan of Rs 360 crore at an interest rate of six percent.

They invited him to a five-star hotel in Kerala and showed him a demand draft of Rs 360 crore, which was fake.

They told Sastry that he would have to pay them two per cent as the service charge to get the loan, police said.

Trusting Nadar, Sastry paid Rs 7.2 crore to him but the loan amount was not released, police said and added that when Sastry enquired with him, Nadar allegedly threatened him.

Based on Sastry’s complaint, a case of cheating, forgery, threatening and connivance was registered.

On May 4, Hari Nadar was arrested from Kovalam and police seized Rs 3.8 kg gold and Rs 8.76 lakh, police said.

Ranjit panicker was arrested on May 6 and gold, cash and vehicles were recovered from his possession.

Police said Nadar had duped many businessmen from Karnataka, Andhra Pradesh, Telangana, Kerala, Tamil Nadu, Maharashtra and Gujarat using the same modus operandi.