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The Central Crime Branch (CCB) has arrested a couple and a private housing finance company manager for allegedly committing a ₹21-crore mortgage fraud by withdrawing original property documents from the lender and pledging them with another bank.The arrested persons were identified as Devendran, 51, and his wife Sasikala, 43, both from Anna Nagar, and R.G. Harinath Karthik, 51, of Perungudi, manager of the Anna Nagar branch of Repco Home Finance Limited.According to the police, Sasikala and Devendran had obtained two mortgage loans totalling ₹3 crore from Repco Home Finance in 2016 after submitting original documents of eight properties as collateral. While ₹2.26 crore was still outstanding, Karthik allegedly issued a fake receipt showing that the loan had been fully repaid and cancelled the mortgage. The issue came to the notice of top officers of the finance company after auditing.The couple allegedly took back the original documents and pledged them with another private bank to secure a ₹21-crore loan.A case was registered by the CCB based on a complaint lodged by M. Vijayakumar, legal assistant manager of Repco Home Finance, with the Chennai Police Commissioner on July 8.The police said the couple was also involved in two other cheating cases involving an amount of ₹9.19 crore. Published - August 26, 2026 12:38 am IST
