Mangaluru: Officials from the Cyber Police Station, Economics and Narcotics (CEN) here have arrested a 34-year-old man for allegedly cheating several people for more than Rs 50 Lakh after promising them again.
Herman Joyson Lobo, a resident of Beltangady, was arrested at Delhi Airport on October 3 after serving a circular (LOC) issued to him by Mangaluru City Police.
City Police Commissioner N Shashi Kumar said on Wednesday that the defendant had raised money from people who were easily fooled by promising them back after investing it.
“He gets money from people saying that he will give them a 10-12% interest a month while they will only get 6-7% ownership in the bank.
Initially, he paid them as promised and gained their trust.
People realize that they have been cheated when it starts default on payment, “Commissioner said.
Shashi Kumar said, according to the information available so far, the defendant had cheated around 30 people in the last three years and two cases had been registered with him.
“He might have cheated more people.
I asked people who had been tricked by him to advance and submit a complaint with the CEN police station,” he added.
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