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Fraud firms' promoters produced in court

Fraud firms promoters produced in court
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Ongole: Lakku brothers trio, promoters of Ongole-based Maitri finance and Nakshatra real-estate companies, who were arrested on charges of financial...

policeOngole: Lakku brothers trio, promoters of Ongole-based Maitri finance and Nakshatra real-estate companies, who were arrested on charges of financial fraud on March 30, were produced in court here on Monday. The Ongole police took Lakku Madhava Reddy, Lakku Malyadri Reddy and Lakku Konda Reddy into custody for three days. During their interrogation, the police have succeeded in investigation as one of them turned approver. The police said interrogation was not complete. It would take few more days to elicit crucial details, they said. During the course of interrogation, the accused have failed to show accounts for about 40 per cent funds collected from depositors.
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