Money-lender held for extorting cash from ex-bank staff

CHENNAI: Police on Wednesday arrested a money lender for threatening a retired bank cashier and extorting money from him in Sankar Nagar near Tambaram. The former bank official’s bike and his ATM debit card were recovered from the money lender’s house.Police said M John, who retired as cashier at Repco Bank four years ago, borrowed 50,000 from Kamalakannan in April 2013. John paid 17 monthly installments of 3,400 each to Kamalakannan, who also runs a shop selling fresh chillis in Pozhichalur, and wanted to pay 20,000 more to close the transaction. However Kamalakannan demanded that the 62-year-old John pay 50,000 as capital as he had only paid the interest.When John refused, Kamalakannan took him to an ATM kiosk, forced to him to withdraw 21,000 with his ATM card and kept the card with him. He began collecting John’s pension that was credited to his bank account and also ‘seized’ his Honda Activa bike. He said he would return the vehicle only after he received the ‘capital’.John then lodged a complaint with St Thomas Mount deputy commissioner of police P Saravanan. After an investigation, the Sankar Nagar police registered a case and arrested Kamalakannan who is now in judicial custody.Kamalakannan (in pic) forced John to withdraw 21,000 from an ATM and kept the card with him. He began collecting John’s pension that was credited to his bank account and also ‘seized’ his Honda Activa bike.