Current AffairsIndia

Three Inter-State gang arrested on charges of cheating 2500 people to the tune of Rs 20 Cr

Bengaluru, Sept 5 (GCCurrentAffairs) Police have nabbed a three member Inter-State gang on charges of cheating 2500 people to the tune of Rs 20 Cr

Police said on Thursday that the arrested were identified as Sunil Kumar Choudhary, native of Jind District in Harayana State, P Rajesh and K S Rajesh, natives of Kanur District, Kerala State.

The trio had opened a company–WAM Services (opc) Pvt. Ltd.,– and were collecting deposits illegally. They were collecting Rs 25,000 promising return of Rs 1250 every week up to 20 weeks and on 21 week Rs 25,000. Similarly they used to collect Rs 50,000 promising payment of Rs 2500 every week for 20 weeks and return Rs 50,000 on the 21st Week. However, they failed to return and based on complaints by investors about non-payment of principle or interest they were arrested.

While Choudhary and P Rajesh were nabbed in the Cituy, K S Rajesh was arrested from his native place.

Cubbonpet Police have registered a case and investigating.

Via UNI-India

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