2023-08-15 03:01:18
Bengaluru: A Malayali youth and his accomplice have been arrested in the case of extorting Rs 65 lakh from a businessman in Hyderabad by promising to participate in the liquor business. Subish P., owner of a company called Business Exchange Group and a native of Thrissur Athani. Vasu (31) and Bilekahalli native Shilpa Babu (27) were arrested by the HAL police. Both lived together in Marathahalli.
Trader K.R. Kamlesh transferred the money last year. The accused took the money by offering participation and huge profits in the business of importing liquor and distributing it to various parts. After waiting for a year, but the business did not start, the money was asked to be returned, but it was not given. This is why the police was approached.
The accused lured investors by making them believe that they had close ties with high-ranking officials of the central and state governments and several political leaders. There are also cases in other police stations in Bengaluru against the accused in connection with financial fraud of crores of rupees. Both have been remanded in judicial custody.
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