JOIN USM C Lokesh, 36, a resident of Mudenahalli, and Vinaya, 30, of Jampalegaudanadoddi, both in Kanakapura taluk, were arrested by City Crime Branch (CCB) police for cheating.
Gold and diamond ornaments weighing and 1.56 kg, two cars worth Rs 25 lakh, furniture valued at Rs 5 lakh, Rs 10 lakh in cash and other properties, all totally worth Rs 75 lakh, were recovered from them.
The two, according to the police, took crores of rupees from over 33 persons claiming their ambitious project would benefit investors.
They claimed they were planning a hospital at Harohalli and developing residential sites, luring people to invest for huge returns.
They collected cheques, but did not take up any projects and absconded with the investors’ money a year ago.
The police, acting on definite leads, arrested the culprits recently.
10 held for betting
Ten persons were arrested by the Basavanagudi police on charges of cricket betting and recovered Rs 93,300, a television set, set top box, 11 cellphones and chits from them.
The suspects are: Ramesh, 28, resident of Chamarajpet, Ravi, 27, Gavipuram, Shivaprakash, 30, Girinagar, Manju, 27, K G Nagar, Ravikumar, 29, BSK I stage, Dhananjay, 32, Nandini Layout, Gurumurthy, 24, Hanumanthnagar, Purushottam, 27, Uttaralli, Nagaraj, 32, Katriguppe and Raghu Gaikwad, 31, Chamarajpet.
On a tip-off, police raided a lodge in Basavanagudi when a T20 match between RCB and KKR was on at the Chinnaswamy Stadium and another between Pune Warriors and Rajasthan Royals.