Hyderabad: Man cheats people by promising them contracts to set up coffee shops

According to police, Guthena Sreenivasulu started his career as a lecturer at Khammam.
Image used for representational purpose.
Image used for representational purpose.

HYDERABAD: A 55-year-old businessman, who had returned to India after staying abroad, and his female associates allegedly cheated gullible victims to the tune of Rs 3 crore under the pretext of providing them contracts to set up coffee shops inside offices of MNCs in the city. They were arrested by Malkajgiri Special Operations Team on Tuesday. 

According to police, Guthena Sreenivasulu started his career as a lecturer at Khammam. He later moved to Malaysia, where he worked at a college for a year and returned to India.  He later got into the rice trading business, where he experienced massive losses and failed to pay his loans. 

When the lenders started pressuring him into paying him back, he conceived of another idea. He contacted his friends with an offer to provide them with contracts for setting up coffee shops in MNCs. He collected large sums of money from them - Rs 3 crore, say police. 

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