A 30-year-old man was arrested from Telangana’s Kompally for duping a Gurugram primarily based businessman of ₹2.45 crore in June 2023, police stated on Friday.
The accused, recognized as Venam Raju, an MBA graduate and resident of Malkangiri in Telangana, posed as a financier and lured the sufferer by claiming to lend cash at cheaper rates of interest, in response to officers aware about matter.
Investigators at Gururgram police’s financial offences wing (EOW)-I stated, in September 2023, the complainant within the case and former proprietor of Orient Craft Sweaters Restricted, approached the Sadar police station claiming that he was trapped by an organised syndicate whereas in search of a mortgage at cheaper charges.
“The sufferer was first contacted on Could 25, 2023, by a person named Tarun Manchanda, claiming to be related to Vikram, a Haryana-based financier and Nitin Garg, a Hyderabad-based financier. Subsequently, the suspects, together with Garg, Vikram, Manchanda and Raju later visited his workplace, promising him a mortgage of as much as ₹100 crore at a 6% rate of interest and requesting paperwork equivalent to his financial institution statements and purchaser projections,” stated Sandeep Turan, public relations officer of Gurugram police.
Turan stated, the sufferer submitted his paperwork to Garg on Could 28, 2023. The suspects later felicitated his assembly with one other man named Srinivas Kandola, who gained his belief by displaying him mortgage agreements value as much as ₹1,000 crore and provided him related schemes.
Investigators stated that one short-term mortgage of ₹2.5 crore and a long-term mortgage of ₹40 crores to be repaid in 5–7 years, at a 6% rate of interest have been provided to him. The accused demanded ₹2.5 crore to be deposited as curiosity for the ₹40 crore mortgage.
In June 2023, the sufferer acquired ₹2.25 crore to his checking account. “Inside two weeks, throughout a gathering in Hyderabad, the sufferer transferred ₹4.7 crore by way of RTGS to the financial institution accounts belonging to the suspects. As per their settlement, the sufferer believed that one other ₹40 crore could be added to his checking account inside quarter-hour. Nonetheless, the suspects absconded, defrauding him of ₹2.45 crore,” Turan added.
When positioned below interrogation, Raju revealed that he works with Srinivas. “He, together with Srinivas and different associates, defrauded him. Of the defrauded quantity, ₹50 lakh was transferred to Raju’s checking account,” Turan stated, including that the case was already registered at Sadar police station in 2023 the related provisions of the Bharatiya Nyaya Sanhita (BNS) and that additional investigations are happening.
“The identification of his associates and restoration of the defrauded quantity, can be carried out,” he stated, including that the accused was produced earlier than an area courtroom in Malkangiri and brought on a four-day transit remand on Wednesday.
