Hyderabad: Police arrested a 47-year-old man for duping people to the tune of Rs 50 lakhs here on Monday, said police
According to a press release, the accused – Puri Kiran – a resident of the Jogulamba Gadwal district had been absconding since 2013.
Puri Kiran, along with his associates – T Suresh Babu, T Kishore Babu Puri Suresh Shetty and Jaladurgam Mahesh – had set up a company named Akshara Gold Resorts Pvt. Ltd at Wanaparthy town.
With wide publicity, they soon attracted citizens who invested money in their business. Later, the company was shut down as it was violating several RBI rules.
Puri Kiran was produced before the district sessions court and sent for judicial remand.
