logo
 
The Cyberabad Police have busted an investment fraud and arrested three persons on charges of duping 20,000 investors to the tune of over Rs 50 crore here on Monday. Officials said two Chinese nationals were absconding in the case.

Addressing a press meet, Cyberabad Police Commissioner V.C Sajjanar said the prime suspect Uday Pratap along with his associates, with the support of Chinese nationals, floated a company here and collected investments.

They had three attractive investment schemes to lure investors starting from Rs 300 to Rs.15,000 promising high returns for a period of 90 days,” Sajjanar



said.

As people were initially reluctant, the fraudsters deposited money into the bank accounts of some of the investors and gained trust of others.

“Slowly people started investing in the schemes. The payment was done through Razorpay gateway. We have summoned them to get more details on financial transactions,” Sajjanar said, adding the gang was in contact on Skype and WhatsApp.

Officials said further investigation was on into the exact number of investors and money which was siphoned off by them. Efforts are on to nab the absconding suspects too.



No Comments For This Post, Be first to write a Comment.
Leave a Comment
Name:
Email:
Comment:
Enter the code shown:


Can't read the image? click here to refresh

Todays Epaper

English Weekly

neerus indian ethnic wear
Latest Urdu News

Do you think Ruturaj Gaikwad would be a good captain for Chennai Super Kings?

Yes
No
Can't Say