Two arrested for false advertisements

Hyderabad: CCS police on Wednesday apprehended two persons on charges of cheating innocent public by collecting money on pretext of providing private finance up to Rs 50 lakh. Detective department Joint Commissioner T Prabhakar Rao, in a press note on Wednesday,

stated that the accused Mallepally Venkataranama alias Anil,40, marketing manager of Sri Chandra Farms and Resorts India Limited and a native of Nandikotkur village in Kurnool district of Andhra Pradesh and his accomplice Revella Raju, 25, executive at Sun TV, Hyderabad and resident of Maheshwaram, gave advertisements in Telugu daily newspapers that they would provide private finance from Rs 1 lakh to Rs 50 lakh on EMI basis and gave their contact numbers in the advertisement.

When the interested people called the accused on the given numbers, the accused insisted them to pay amount varying from Rs 3,000 to Rs 10,000 in their bank accounts as security deposit and other documentation. After collecting the money, the accused persons avoided the telephone calls from victims and switched off their mobile phones, the Joint Commissioner said.

Based on a complaint given by two victims, a case was registered against the accused persons and were taken into custody. One mobile phone and Rs 8,000 cash was seized from their possession. A team led by inspector G Shankar Raju was investigating the case to identify more victims, informed the Joint Commissioner.