BENGALURU: Sleuths attached to the Central Crime Branch (CCB) arrested two persons including a software engineer for operating a Ponzi scheme firm and reportedly cheated nearly 700 people by collecting more than Rs 25 crore by promising higher returns. The firm, Pramya International was functioning in Konanakuntte police station limits.
The company’s founder Pradeep and his agent Vasanth Kumar have been arrested. CCB sleuths are also investigating the role of Sowmya, wife of Pradeep in the fraud case. The company Pramya is named using the first three alphabets in Pradeep’s name and the last three alphabets in Sowmya’s name.
The couple were earlier working as techies and later quit their jobs to float their own company and make fast money.
The accused have been booked under the Banning of Unregulated Deposit Schemes (BUDS) Act of 2019 and cheating case.
The bank accounts of the accused have been frozen and several documents have been seized. Those who have invested in the company have been asked to approach CCB sleuths and record their statements. Further investigations are on.