Chennai: The Central Crime Branch (CCB) of Tambaram City Police arrested a businessman and his associate on Sunday in connection with a ₹21.75 crore fraud case involving a film production company. The arrested individuals have been identified as EVP Santhosha Reddy (45) and his associate V Vinod (52). They were arrested based on a complaint filed by the manager of Vels Film International Limited. According to the complaint, Reddy and his associates approached the production company and entered into a business partnership in June to develop an amusement park and cinema hall under the name Vels on their family’s 34-acre land in Sembarambakkam. Reddy received ₹21.75 crore from the Vels Group as per the agreement. However, after receiving the money, they failed to fulfill the deal and allegedly illegally canceled the contract. They also threatened the Vels Group officials to vacate the premises, following which the complaint was filed. The CCB registered a case on the instructions of Commissioner A Amalraj. Following an investigation, both were arrested. The search for another associate, Kiranraj, is underway.
CHENNAI: Businessman and his associate arrested on charges of financial fraud.
