NEW DELHI: The Economic Offences Wing of Delhi Police has arrested Tamil actor and self-styled doctor S Srinivasan, popularly known as Powerstar, for allegedly defrauding a Delhi-based company of Rs 5 crore. He had been evading trial since 2018 and was declared a proclaimed
offender twice.
Srinivasan, 64, allegedly posed as a financier, promising to secure a Rs 1,000 crore loan for the firm. The complainant paid Rs 5 crore to purchase adhesive stamps as part of the deal, but the loan never materialised. Investigations revealed the money was diverted for personal use and film production.
Police said Srinivasan issued a post-dated cheque that bounced and failed to repay the amount despite court assurances. He was arrested from Vanagaram, Chennai, on July 27. Known for comic roles, he is also named in
six similar fraud cases.