6 months ago
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The Central Crime Station (CCS) Detective section arrested 2 alleged achromatic collar offenders successful transportation with a ₹23 crore concern fraud lawsuit and brought them to Hyderabad connected Saturday connected a transit warrant.
The accused, identified arsenic Vuppalapati Satish Kumar and his woman Shilpa Banda besides known arsenic Vuppalapati Shilpa Rao, were picked up from Dharwad successful Karnataka connected November 20 pursuing what constabulary described arsenic a melodramatic cognition based connected credible information.
According to the ailment filed connected September 18 by P. Vinay Kumar, lad of P. Shiva Shankar, 67, a nonmigratory of Mamidipalli successful Ranga Reddy district, the mates allegedly persuaded him, his household members and respective others to put successful their steadfast by promising charismatic returns. Police said that aft paying tiny archetypal amounts, the accused stopped making further payments and absconded, allegedly cheating investors to the tune of ₹23 crore.
Investigators said the couple, on with associates, floated aggregate ammunition companies and diverted deposits into antithetic entities. A lawsuit was subsequently registered nether by CCS Hyderabad.
Since then, the accused allegedly evaded apprehension and did not cooperate with the investigation.
Police said Satish Kumar and Shilpa Rao were antecedently progressive successful cases investigated by the CBI, the Enforcement Directorate and the GST authorities.
The cognition was carried retired nether the supervision of DCP N Swetha of the CCS Detective Department. Officers from CCS and the Task Force jointly executed the arrests. Both accused were produced earlier a Hyderabad tribunal connected Saturday for judicial remand.
The lawsuit is being investigated by Inspector C. Parasuram of the EOW Team VI of CCS Hyderabad.
