بسم الله الرحمن الرحيم
Only poor and needy ones are eligible for interest money. When the above mentioned person has the property of lakhs then obviously he is not poor. He may sell his property and improve his financial status. Hence it is not lawful to give interest money to such a person.
Allah knows Best!
Darul Uloom Deoband
This answer was collected from the official ifta website of Darul Uloom Deoband in India.