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Rs 100 crore fraud exposed, Couple sent to remand!
By: Tupaki Desk | 1 Dec 2015 6:39 AM GMT
M Srinivas (63) and BG Pushpalatha (55) who were residents of Vijaya Bank Layout in Bannerghatta road in Bengaluru cheated as many as 85 people to the tune of Rs 100 crore.
As per police, Srinivas, Pushpalatha, their son Sundeep and daughter-in-law Preethi own companies such as Shreyas Finance & Investments, Shreyas Chits and Shreyas Souharda Co-operative Limited. They would invest the money collected through Fixed Deposit and Chit Fund Schemes in Stock Market & Real Estate. The business was run by the family for nearly 30 years and everything went smoothly until they incurred huge losses in the past few months. While Srinivas and Pushpalatha shut their offices and shifted to a new residence, Sensing trouble Sundeep and Preethi fled to Hong Kong six months ago.
After receiving three complaints against the family, Police traced the Swift Dzire car of Srinivas with the help of registration number. The senior citizens were arrested and sent to remand. Cops were putting efforts to deport the young couple to India as early as possible.
As per police, Srinivas, Pushpalatha, their son Sundeep and daughter-in-law Preethi own companies such as Shreyas Finance & Investments, Shreyas Chits and Shreyas Souharda Co-operative Limited. They would invest the money collected through Fixed Deposit and Chit Fund Schemes in Stock Market & Real Estate. The business was run by the family for nearly 30 years and everything went smoothly until they incurred huge losses in the past few months. While Srinivas and Pushpalatha shut their offices and shifted to a new residence, Sensing trouble Sundeep and Preethi fled to Hong Kong six months ago.
After receiving three complaints against the family, Police traced the Swift Dzire car of Srinivas with the help of registration number. The senior citizens were arrested and sent to remand. Cops were putting efforts to deport the young couple to India as early as possible.
