Hyderabad, Aug 15 (Maxim News): The Central Crime Station sleuths of the Hyderabad police arrested one person for allegedly cheating people by promising huge profits on small investments
Ch. Upendranadha Reddy alias VC Reddy (32) a resident of Bengaluru and native of Kurnool district in AP along with 14 other persons is involved in four cases registered in Hyderabad CCS.
The gang started a company ‘V Empire‘ at Secunderabad collected huge money from unemployed persons assuring huge returns on investments and introduced various schemes. They promised monthly income between Rs. 20,000 to Rs. 60,000 to them and later duped them said Joint Commissioner of Police, Detective Department Dr. Gajurao Bhupal.
On a complaint, the police had registered a case and out of 15 suspects, so far nine are arrested. During the investigation, the police freeze 35 bank accounts wherein an amount of Rs. 54 crores is deposited. a total of 163 victims were examined by the police. (Maxim News)
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