Bengaluru: Five men were arrested by police Suddaguntapalya on Thursday because they were allegedly deceiving two entrepreneurs amounting to RS 5.8CR under the pretext of getting loans from a financial company on November 16.
Probe revealed that the gang had bought 11.5 kg of gold from two jewelry companies from two jewelry.
and used BMW cars from the funds they collect from entrepreneurs.
One of the defendants had spent 10 lakh Rs of the money he earned cheating to renew the BMW car.
TNN TOI has reported fraud carried out by gang on November 22.
Defendant Syed Ibrahim aka Daniel Armstrong aka Amara from Kerala; Vivekananda aka Vicky aka Viveka alias Vivekanda Kumar; Christopher aka Raghavan; Raghuvaran and Shivaraman aka Nagaraj, fourth of Tamil Nadu.
The police have confiscated 8.2 kg of gold, BMW worth 35 lakh, Maruti Suzuki Ertiga worth Rs 10 lakh, RS 36.6 lakh cash and freezes bank bank accounts that have a balance of Rs 1.8 lakh.
Ertiga seized because it was used to commit a crime.
The police estimated that the suspects had spent 45 lakh Rs of the money they had obtained by cheating two entrepreneurs.
They said they had not recovered more gold bought by the defendant.
Police said that there was another suspect in large quantities and efforts to track and arrest him.
“The victims and people accused of discussing their business deals on the telephone, messages and letters.
They met directly in Bengaluru only the day before the suspect lost on November 16 immediately after two victims transferred Rs 5.8 Crore to the suspect bank account.
“Srinath M Joshi, deputy supervisor of the police (southeast) said.
According to the police, Girish P, 48, from Ashokanagar, and Taram, a substitutic district resident in Arunachal Pradesh, has filed a complaint against the gang.
According to two firs, Girish lost Rs 2.2 Crore and Taram lost Rs 3.6 Crore.
Police named Daniel Armstrong, Vivekananda Kumar and Ravi Raghavan as the defendant based on the information provided by the victim’s duo.
Girish has a real estate company in Bengaluru and he will take a new project.
He is looking for a loan with a lower interest.
One of the tenews called Girish and asked him to contact Armstrong, who run a financial company at Krishna Nagar, near the BTM layout.
Vivekananda and Raghavan met him and he received an email on November 8, where they agreed to give RS 150 Crore sanctions as a loan.
They should disburse loans on November 16, but they did not do it.
Likewise, Taram accused the trio to deceive him from Rs 3.6 Crore.
Taram wants a loan for the project and the gang approaches it by telephone.
Gang set flight tickets for him from Arunachal Pradesh to Bengaluru on October 25.
He met them in their office and they agreed to sanction him Hospital 240 Crore.
They sent him email on November 8.
Taram met Armstrong in his office on November 14.
The next day, he transferred RS 3.6 Crore as a number of commitments, expect money at night.
When he did not understand, he visited Armstrong’s office and realized that he had been cheated.
Police investigations revealed that Ibrahim opened Frim – ‘Ace Ventures Capital, Moul Group of Companies’ – in the first week of November.
He took the rental office furniture when he set up the office temporarily to captivate the victim.
He opened a bank account in the fake company name.
The gang transferred Rs 2.2 Crore transferred by Girish to a jewelry store and bought 4kg of gold from his Bangalore branch shop.
They transferred Rs 3.6 Crore transferred by Taram to another jewelry store and bought 7.2kg gold.
They paid Rs 33 Lakh as GST / CST against their payment for purchasing gold.
The gang took all the gold into a hotel in Salem, where they divided their shares there.
Two victims: According to the police source, Girish has mentioned in his complaint that one businessman with the name of the committee also lost Rs 3.6 Crore to the same gang.
The police initially thought that the gang cheated three entrepreneurs more than Rs 9.5 Crore.
Then, the police knew that the person who was named Girish as the commander was actually Taram.
The police clarified that gangs only cheated two victims.
A Hyderabad businessman who allegedly introduced the victims of allegations of accusations was killed in mysterious state on the train in Yelakeka on November 24.
The police asked him the previous day.