Fraud Chartered Accountant Arrested
Patna: Mar. 12, 2007
 The Kotwali police in Patna, on Monday, arrested a Chartered Accountant for defrauding a number of unsuspecting victims by promising to get them large sums in loans at very low interest rates, Kotwali police station in-charge Dineshchandra Srivastava said.
Rajnandan Rai, the owner of the Maurya Lok-based Professional Project Consultants, was taken into custody following a raid at his apartment on Boring Canal Road after one of his victims Subodh Ranjan lodged an FIR against him.
Rai, whose business of conning innocent men and women spread from Bihar to Maharashtra with the help of a Mumbai-based businessman, had been taking money in fees while promising to obtain large sum of loans for his 'customers'.
The police said Rai had been facing charges in four other similar cases. He was found guilty in three of them, they said.
The police estimates Rai, who is a Vaishali native, had taken in more than Rs. 25 lakh from his clients by making false promises.
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