Fraudulent Sugar Factory Millionaire Arrested

Fraudulent sugar factory millionaire arrested: Police arrested Ram V. Thiyagarajan the owner of four sugar factories in the Cuddalore region yesterday on the charges of forgery and fraud by the order of the Collector of Cuddalore district. He was arrested from his house in Koturpuram in Chennai by the DCP of Cuddalore Mr Palani.

The complaint was filed by a person named Stalin who is sugarcane farmer from the area. He complained that an amount of 18 lakhs from two banks has been loaned to his name without his knowledge. He stated, “Thiyagarajan used my signature that was on the documents for the settlement of the unpaid bills to me for the supply of sugarcanes”. He also accused him of not paying him for the supply of 250 tons of sugarcane estimated to be 5 lakhs worth.

The 100 crore club: Two years back two factories owned by the Thiru Arooran group were closed down due to pending bills not settled for many years. The factories were closed on the order of the Collector of Cuddalore district. Not mentioning this order Ram V. Thiyagarajan deceptively tricked the farmers of Viruthachalam and surrounding areas to get their signs claiming to pay their pending bills. He then used their signs to get loans from SBI and corporation banks to pay the farmers the pending amount.

The farmers realised that they were duped only after they received warning notices from the banks as Thiyagarajan didn’t pay back the loans. Responding to the complaint from the farmer district SP of Cuddalore Mr Saravanan started his investigation six months ago. After the probe, he claims that 1500 farmers have been scammed of nearly 100 crores.

He has been arrested on the charges of fraud and forgery among others. The interesting thing is that he was the chairman of the Indian sugars mills association for four times.