Man duped of Rs 25 lakh with promise of high returns, 9 arrested

BENGALURU: Nine people have been arrested by Devanahalli police for allegedly cheating a man of Rs 25 lakh by promising him huge returns on investment.

The accused, identified as Krishna Kumar Reddy, Ahmed Sharif, Venugopal, Sampangiram, Narayana Swamy, Shiva K V, Murgeshan, Malayam Latif and Venkatesh, posed as officials from the ‘Human Rights Protection and Corruption Eradication Wing’ and convinced the victim that they would exchange his Rs 30 lakh for Rs 90 lakh with the same serial number.

The victim, believing their false claims, sold his gold ornaments and handed over Rs 25 lakh to the accused. The investigation revealed that the accused had used a car and multiple mobile phones to carry out the scam.

Further investigation revealed that the accused had also duped several others in a similar manner. The police have recovered Rs 14 lakh in cash, two cars and 13 mobile phones from the accused.