1 month ago
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Two second-year engineering students of SRM University-AP, Amaravati, allegedly duped respective chap students by promising precocious returns connected investments and field placements successful backstage companies. The constabulary person launched an probe acting connected respective complaints successful this reagard.
Mangalagiri Rural Police Station SI Chirumamilla Venkateswarlu connected Thursday told The Hindu that 2 students, identified arsenic P. Vijay Narasimha and E. Varun Sai, allegedly collected astir ₹1 crore from their chap students from the assemblage by promising lucrative returns connected investments and employment by the clip they completed their four-year engineering courses.
The constabulary said that the duo had reportedly repaid a information of the wealth arsenic returns to immoderate students who had initially invested aft believing their claims.
Mr. Venkateswarlu said constabulary were verifying the slope accounts of the accused, tracing fiscal transactions, and gathering much information. A information of the magnitude had besides been recovered from the accused, helium said.
According to the police, the accused were not from affluent backgrounds but allegedly projected themselves arsenic affluent earlier their chap students.
Meanwhile, the assemblage authorities confirmed that it had constituted a disciplinary committee to inquire into the allegations and that an interior probe was successful progress. The assemblage has truthful acold identified 5 victims and summoned some the students and their parents for inquiry.
The assemblage stated that due and stringent enactment would beryllium taken based connected the recommendations of the disciplinary committee.
