Udupi: Multi-crore Fraud – Police Arrest Two
Daijiworld Media Network – Udupi (SP)
Udupi, Jun 13: On being presented by the policemen before him, a judge here remanded Vighneshwar Aithal, head of Adithya Bio Confirm, to ten days police custody on Sunday June 12. Aithal was running the said firm, which allegedly accepted huge sums of money by luring people in the name of high returns, and then failed to honour the cheques issued to the depositors thereof.
Satyanarayan Rao and Vighneshwar Aithal
In the meantime, a person named Satyanarayan Rao, who was working in close coordination with Aithal, has also been taken into custody by the police. He was arrested on the basis of complaints received from the people. Rao is being subjected to intensive questioning.
Allegedly, Aithal had, through his firm, collected deposits totalling to about Rs 25 crore from 350 persons. Official complaints were filed on Sunday against the firm by Ganesh Bhat Alevoor (4.8 lac), Sureh K Ambalpady (50,000), Murari Ballal Marpalli (2.1 lac), Lunakumar Udyavar (2.2 lac), and Shobha Ratnakar (18 lac). It is gathered that the accused did not issue any official receipts for the amounts collected, and the complainants are therefore, compelled to entirely base their case on the basis of cheques in their hands. This fact may, it is felt, come in the way of claiming back the deposits. There are reports that some of the people were fleeced to the extent of over ten lac rupees. More complaints are expected to be filed during the coming days.
The policemen have left for Kammaradi in Udupi district with the hope that they would be able to get access to at least some of the records maintained by the firm, at the home of Aithal’s wife there.