Investment racket busted, 3 arrested

CCB sleuths arrested three people, including a producer in the Kannada film industry, who used to lure citizens to invest in real estate, promising higher returns.

One of the accused, Sudhakar K, claimed that he had produced several Kannada movies, including Vardhana, Katha Vichitra and Hulidurga, and had even acquired the distribution rights for some others like Rajinikanth’s Petta. He also convinced many people to invest in his proposed layout in Mysuru. Sudhakar and his associates Venktasubbaiah, Subramani, Nallayan Peter and Vijay Kumar duped several people to invest crores of rupees. The police have arrested Peter and Kumar, and are searching for the other two.

The arrests were made following a complaint by Divyashri K T, who had invested Rs 85 lakh, but was cheated by the accused. When she realised what had happened, she filed a complaint with the Byatarayanapura police.