Bengaluru: Central Crime Branch (CCB) sleuths are searching for the owner and administrator of a private company in West Bengaluru’s Vijayanagar for allegedly scamming people via investment schemes.
The CCB's Organised Crime Wing (OCW) are on the hunt for Muniraju GV, owner of the Akshaya Fortune Developers, and its administrator, Manju. They are suspected to have cheated more than 50 people by using dubious schemes.
According to the police, the suspects had opened the firm and approached people to invest in it. They enticed the victims with 25% returns every month on the investments. Additionally, to attract more investors, they promised Rs 5,000 returns if a person brought in someone new to invest more than Rs 1 lakh.
Police have taken up a suo motu case. They are trailing the suspects and have traced 20 victims and recorded their statements. Police have requested the other victims to come forward and file complaints.
An FIR has been filed under IPC sections 420 (cheating and dishonestly inducing delivery of property) and 406 (criminal breach of trust) at the Govindarajanagar police station. Police have also invoked the Banning of Unregulated Deposit Schemes (BUDS) Act in the FIR.
(Published 02 April 2024, 21:36 IST)
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