Burhanpur (Madhya Pradesh): Burhanpur police arrested permanent warranty Pankaj Patni, who was absconding for more than 20 years, from Shahdara in Delhi. He was later produced in local court.
Police were searching for him since 2001 after he cheated many cotton traders and farmers of Rs 2.86 crore.
According to information, accused Patni of Jaora Compound in Indore, was involved in cotton trading business in the name of company called New Cotton Company in the district in 2001. He borrowed a large amount from about 20 people of the town and did not return the money. Later, he gave cheques to creditors in lieu of borrowed money which were rejected by bank. Following this, creditors filed a case against the accused in the court. This amount stands around Rs 2.64 crore. Court issued warrant against him.
Similarly, in 2001, the farmers were also cheated by the accused as he bought cotton through New Cotton Company, but did not pay Rs 22.5 lakh to them. An FIR was registered against him under Section 420 (cheating) of the IPC with Kotwali police station. In this way, accused embezzled Rs 2.86 crore. Many people of Indore and Kannod of Dewas district were also cheated by him.
