Hyderabad police arrest scamster involved in defrauding individuals
A resident of Bengaluru and native of Kurnool district in AP, Ch Upendranadha Reddy allegedly cheated people promising huge profits on small investment.
Hyderabad: The Central Crime Station sleuths of the Hyderabad police arrested one person for allegedly cheating people promising huge profits on small investment.
Ch Upendranadha Reddy alias VC Reddy (32) a resident of Bengaluru and native of Kurnool district in AP along 14 other persons is involved in four cases registered in Hyderabad CCS.
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The gang started a company ‘V Empire’ at Secunderabad and collected huge money from unemployed persons assuring huge returns on investments and introduced various schemes. They promised monthly income between Rs. 20,000 and 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 froze 35 bank accounts wherein an amount of Rs. 54 crores is deposited. A total of 163 victims were examined by the police.
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