A 61-year old man has been arrested for duping a private firm of Rs.1 crore by issuing cheques to two of his friends from company’s account.

Based on a complaint by the firm, City Crime Branch Police on Friday night arrested Vadivel, the retired cashier of the company, from his house in Sundarapuram.

According to police, the financial firm, during its audit, found that 26 cheques were issued to Nagaraj and Maruthachalam, friends of Vadivel, from its account. The company filed a case in March last year.

From then on, Vadivel and his friends absconded and were constantly on the move across the country, police added.
Investigation revealed that Nagaraj and Maruthachalam had transferred money to Vadivel’s account on receipt of the cheques.

Vadivel was nabbed when he came to visit his family late last night.

Officials are in the process of attaching a commercial complex and four houses purchased by Vadivel with the money, police added.