Mancherial: Computer operator arrested in share market fraud

A computer operator was arrested by the Task Force in Mancherial on Tuesday on charges of duping the public under the guise of share market investments.

Mancherial: A computer operator was arrested by the Task Force in Mancherial on Tuesday on charges of duping the public under the guise of share market investments.

He was absconding for five months. Multiple credit cards and passbooks of various banks belonging to victims, Rs 8,100 and a register were seized from Chevva Ravi, from Goseva mandal road in Mancherial town.

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Ramagundam Commissioner of Police Rema Rajeshwari, in a statement, said Ravi was nabbed at a railway bridge by the Task Force while collecting funds from a person. Ravi was booked for cheating 50 gullible persons and for extracting Rs 2.11 crore from them promising to pay hefty returns five months ago. He has been at large since then. He was staying in Hyderabad to evade the arrest.

Special teams led by Task Force ACP Malla Reddy and Inspector Sudhakar were formed to nab Ravi, who has reportedly confessed to using the money for personal needs and to investing in buying shares, but registered losses.