His accomplice was apprehended by the CCB in July 2018
The Central Crime Branch on Saturday arrested a 54-year-old person who was wanted for defrauding the owners of a Kerala hospital to the tune of ₹45 crore on the pretext of arranging foreign funds to expand their operations.
Zacharia Paul, of Mavelikara, had lodged a complaint with the Central Crime Branch in 2018. He alleged that his father Kurien Paulose had transferred a sum of ₹45 crore to P.L. Jayaraj from Officers’ Colony, Anna Nagar, between the years 2009 and 2017.
The transfers had been done as he had promised them that he would be able to procure at least ₹5,000 crore of foreign funds as loan for the expansion and development of the Central Travancore Specialist Hospital, owned by the victims.
Thereafter, Jayaraj failed to arrange the promised funds and also did not refund the original amount.
The CCB arrested Jayaraj on July 6, 2018, and was on the lookout for his accomplice, Aswin Rao, since the ₹45 crore transfers were done using his account credentials, the police said.
Following information about his whereabouts, a special team led by Inspector Menaga arrested Aswin Rao in Bengaluru and brought him to the city.
He was remanded in judicial custody.
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