Madipakkam Police arrested a 47-year-old man from Maharashtra for defrauding a businessman to the tune of ₹92 lakh under the pretext of fetching high returns from doing iridium business.
Police said the complainant Dhakshinamurthy, 52, a resident of RR Nagar, Madipakkam has been running a unit for making silver articles. One Rajarajam known to him introduced Bir Mohammed Basha as a businessman doing iridium business from Mumbai. The said Basha also promised to give three times returns on the investment made in his business.
Believing his words, Dhakshinamurthy gave ₹92 lakh in instalments from 2017 to 2024. He was threatened by Basha when he insisted on repayment since he did not receive the promised returns. Based on a complaint from Dhakshinamurthy, Madipakkam Police registered a case and arrested the suspect Bir Mohammed Basha, 47 from Maharashtra.
Published – July 31, 2025 12:04 am IST