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Power Star Srinivasan arrested for duping businessman of Rs 5 crore

S Srinivasan aka Power Star Srinivasan, 52, a resident of Chennai, was taken to Delhi from Chennai where he was lodged in judicial custody in another cheating case.

Power Star Srinivasan arrested for duping businessman of Rs 5 crore

The Tamil film actor-cum-director was arrested by Delhi Police for duping a Delhi-based businessman of Rs 5 crore on the pretext of facilitating a Rs 1,000 crore loan to his company, police said on Monday

S Srinivasan aka Power Star Srinivasan, 52, a resident of Chennai, was taken to Delhi from Chennai where he was lodged in judicial custody in another cheating case.

“Srinivasan is involved in nine cases of cheating using the same modus operandi. He was in judicial custody in Chennai from where he was taken to Delhi on a production warrant,” said Harendra Kumar Singh, additional deputy commissioner of police (Economic Offences Wing). “He duped a Delhi-based businessman in December 2010 on the pretext of helping his company obtain a loan of Rs 1,000 crore,” added Singh.

The businessman lodged a complaint with Delhi Police in January. “In his complaint, the businessman said that Srinivasan’s associates approached his Delhi-based company M/s Blue Coast Infrastructure Development Pvt Ltd as consultants who could help his company get a loan of Rs 1,000 crore. The businessman met Srinivasan in Chennai, where he was asked to pay Rs 5 crore,” Singh said.

“The victim paid Rs 5 crore to the accused and he was promised the loan before January 31, 2011. The actor, however, neither arranged the loan nor returned the money,” said the officer. “The actor had used the money to fund a film,” Singh added.

Srinivasan is a Tamil film actor, director and producer. He is also an acupuncture doctor by profession. He has acted in 12 Tamil films and has produced four films.

He was the kingpin of an organised network of cheats who entice companies and individuals through local contacts on the pretext of giving loans.

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