The Central Crime Branch (CCB) of the Coimbatore City Police on Monday arrested a 42-year-old man and his wife for allegedly duping a businessman of ₹ 5.5. crore.
According to CCB, P. Sivakumar and his wife Sathya Priya (40), residents of Cheran Ma Nagar, were arrested based on a complaint lodged by A. Sivalingam, a businessman from Vadugapalayam in Tiruppur district.
CCB officials said that the couple had been doing the business of medical equipment through their company MSS surgical based at Siddhapudur.
The couple borrowed ₹ 2.5 crore from Mr. Sivalingam in 2015 on the pretext of expanding business. Later, they borrowed an additional sum of ₹ 3 crore from Mr. Sivalingam.
CCB registered a case against the couple after Mr. Sivalingam accused them of cheating him. The husband and wife were arrested on Monday. They were produced before the seventh Judicial Magistrate, Coimbatore, and remanded in judicial custody.
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