Actor and 'Doctor' Powerstar Arrested in Multi-Crore Fraud Case

Renowned Tamil actor S Srinivasan, widely recognized by his moniker 'Powerstar', has been apprehended by the Economic Offences Wing of Delhi Police in connection with a significant loan fraud case. Srinivasan, who also professes to be a doctor, allegedly promised a company a Rs 1,000 crore loan but defrauded it of Rs 5 crore, officials reported.

The courts declared Srinivasan a 'Proclaimed Offender' on two occasions due to his elusion of trial proceedings since 2018. The police identified him as the mastermind behind a substantial conspiracy that swindled the complainant company under the pretense of facilitating an enormous loan. His fraudulent activities allegedly involved diverting funds for personal expenditures and film productions. Six similar fraud cases have been linked to him in Chennai.

Authorities traced Srinivasan to the Vanagaram area of Chennai using local intelligence and advanced surveillance techniques. On July 27, he was detained at Golden Treasure Apartments and placed into judicial custody. Initial investigation revealed shockingly that the fund transfer purportedly intended for loan processing was used for other purposes, including a fixed deposit. His past arrests and evasions highlight the recurring nature of his crimes.

(With inputs from agencies.)