Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Dec 25: The policemen of Suddugunte Palya station here have succeeded in arresting five persons who had succeeded in convincing two businessmen to pay them Rs 5.85 crore and then cheated them. They had made the two businessmen believe that they would provide them loan of Rs 400 crore and had collected Rs 5.85 crore in the form of advance interest for three months.

Out of the money collected, they had acquired luxury cars and gold ornaments, the policeman said.

The arrested accused are Syed Ibrahim alias Daniel Armstrong from Kerala, Vivek alias Vicky alias Vivekananda from Coimbatore Tamil Nadu, Christopher alias Raghavan Raghuvaran alias Raghu, Shivaraman alias Nagaraju. As much as 8.215 kg gold worth Rs 4.1 crore, BMW car worth Rs 35 lac, Ertiga car worth ten lac rupees, Rs 36.6 lac in cash and Rs 1.86 lac in the form of different currency notes were seized. The accused have spent Rs 45 lac, and have paid GST and CST of Rs 33 lac towards purchase of gold, they added.