Hyderabad: Two people were nabbed for stealing 15 cars from different people under the pretext of renting them in Uppal.
The cars (9 Innova, 2 Swift D-Zire, 2 Toyota Etios, 1 Innova Crysta, 1 Maruthi Baleno) worth Rs 2.5 crores were seized from the possession of different people who mortgaged those vehicles.
The duo cheated innocent people by taking their vehicles on rent and disposed of them subsequently by mortgaging them at their known merchant.
According to the Rachakonda police, the duo gained an amount of Rs 30,00,000 from the illegal activity.
The accused Bollu Rajesh, 37 and Banoth Narender, 26 were close friends and planned to earn easy money.
They carved a plan where Rajesh started posing himself as a vendor of a bank and collected four-wheelers from various people under the guise of renting them.
He offered Rs 60,000 to the owner as rent per month for the car.
However, after taking the vehicles from the owners, Rajesh cut all communication with them and moved out of their view.
Later, Narender mortgaged those vehicles with their known merchant by issuing promissory notes and blank cheques under security.
Modus operandi revealed that during the process, Narender also damaged the GPS system in the vehicles in order to prevent the owners of the vehicles from tracking the location.
This way, the duo so far cheated 13 people and mortgaged 15 different vehicles.
On Wednesday, Rachakonda police nabbed them and Section 406 (Punishment for criminal breach of trust) and 420 (Cheating and dishonestly) of the Indian Penal Code were imposed.
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