Commissioner's move follows reports of Rs 50-crore fraud published in MiD DAY
Commissioner's move follows reports of Rs 50-crore fraud published in MiD DAY
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What an idea, sirji: Police Commissioner Shankar Bidari's decison has given hope to over 40 people who were assured that they would get money from the Pentagon (left), the headquarters of the US Department of Defense (below). File pic |
About four weeks after MiD DAY exposed two software company owners posing as loan agents with access to 'US Pentagon's defence developmental scheme' funds for city, the police commissioner has handed over the case to the Central Crime Branch for a detailed probe.
u00a0Bidari's decision has brought a ray of hope to the 40 victims who were on the verge of losing their property and money. The total amount swindled by the accused estimates to be around Rs 50 crore.
Victims seek help
Several victims had approached the MiD DAY office after the report was published, and had said that they would go to any lengths to get justice.
After having procured the documents, the accused, Brothers Chandrashekhar and Chandrakeerti would deposit them in various banks as a surety to avail loans.
As soon as the loan the loan was issued in their names, the duo would default on the EMI's and disappear with the money.
As a result, the bank would move in to seize the property.u00a0
The duo handed over the drawn amount to Sunderraj Naidu, an ex- mayor, who runs a successful hotel business in Basaveshwar Nagar.
When the victims approached the brothers, they said the release of the funds had been delayed due to some technical problems.
Finally, when the victims started pestering them, the brothers hired bodyguards, and threatened them, which kept the victims from approaching the police.
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| Police speaks |
| Deputy Commissioner of police (crime) SN Sidramappa when contacted feigned ignorance about the case being transferred to CCB. "I don't have information about the case being handed over to us," he told MiD DAY |
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