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Deceived Rs.2 Crore approximately

Posted on 20-Jun-2012

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Mr. Ganesh, who is residing in Kakinada since 9years along with his family members at Kalepureddy street in Suryaraopeta area, has deceived people around him for rupees 2crore approximately. He said to people that he is doing printing works in the name of Madhava Printers in Kakinada city itself. He said that he does JNTU-K Printing project works, and also supplies identity cards, books and stationery goods to all educational institutions. He made people to believe that, one can gain more profits in less time after investing in these printing projects, with this some people belonging to Kakinada and near by areas started investing with him and have given him one lakh rupees each as their initial investment. He started giving them profits  to gain more belief on him and provided pronotes & checks as surety, like this he received altogether 2crore rupees approximately from different people. Now people started questioning Ganesh and his family members as they are not receiving profits from him, he tried to make them believe saying that he had received 4.9 Lakhs check which is to be drawn on 13th, and pay them all the arrers on 14th June. When people visited Ganesh house on 14th June, they noticed that it is locked and anquired their neighbours about them, as neighbours also have no information about them, so that all of them approached Two Town Police Station. Responding to the incident, SI K.Pallam Raju filed the case and started investigation.

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