HYDERABAD: Cyber Crime sleuths arrested two conmen, who had duped several people in the name of Scheme fraud, and recovered Rs 23 lakh worth property from their possession.
Police arrested G Ratna Kumari, 32, from Saroornagar, and Rathalavath Pandu, 45, from Nagole. In May, the duo had posted ads in the newspapers and websites promising to pay an interest of up to 23.5% to investors in their ‘GRK Infotech’ MLM scheme.
When a 29-year-old private employee, Sardar Bachan Singh, from Kishanbagh called the duo to know about the scheme, they explained to him that they would invest the amount in share market, bullion trading, real estate and the profits would be paid to the investors in the form of interest ranging between 20% to 23.5%.
Attracted by the lucrative offer, over 100 gullible people invested Rs 45 lakh in the scheme. As they promptly paid interest for the first month, the number of investors increased and by promising to pay 5% commission to introducer of a new customer, quickly the fraudsters managed to cross 100-customer mark by July. The fraud came to light when they stopped paying interest from August and switched off their cellphones.
Based on a complaint lodged by Bachan, the Central Crime Station (CCS) sleuths registered a case and began investigation. After a detailed probe, CCS’ Cyber Crime Cell police managed to arrest the two from their houses and recovered Rs 23 lakh worth property, including Rs 19.56 lakh in cash, and 12 tulas of gold from their possession.
The arrested persons along with the seized property were produced before a magistrate, who remanded them in judicial custody.