Chennai, June 29: A man was today arrested for allegedly duping a city-based businessman of Rs 52 lakh by selling an nine kg stone claiming it to be a precious stone belonging to erstwhile royal family, police said.
49-year-old V P Kathiresan had sold the stone for more than Rs five crore to R Umakanth claiming it to be ‘Ruby’ belonging to erstwhile Vijyanagar empire, they said, adding he took Rs 52 lakh as advance from him.
On verifying the stone, Umakanth realised that he was cheated and registered a police complaint.
Kathiresan was remanded to judicial custody, they said.
–Agencies