HYDERABAD: Two Chennai-based white collar offenders who duped customers by establishing an insurance firm named United India Health Organisation at Trimulgherry, were arrested on Thursday.
Gopikrishna Venkatakrishna Vasu and Natarajan Arumugam were previously arrested by Chennai police in a Rs 100 crore fraud case. They were released from jail in July and shifted to Hyderabad. They distributed pamphlets in Trimulgherry and soon set up a fake call centre.
Twenty-four staffers were hired by the duo to lure customers to invest in health-related insurance policies and multi-level smart investment schemes, all of which were fake. The duo cheated nearly 55 people from whom an amount of Rs 5.5 lakh was accumulated.
DCP P Radhakishan said, “The racket was busted in the initial level where the duo were still obtaining customers and making them invest small amounts. They were using the money to pay staffers salaries ranging from Rs 8,000 to Rs 15,000.”
The duo were arrested by the North Zone Task Force on Thursday and have been remanded to judicial custody. Two Chennai-based white collar offenders who duped customers by establishing an insurance firm named United India Health Organisation at Trimulgherry, were arrested on Thursday.
Gopikrishna Venkatakrishna Vasu and Natarajan Arumugam were previously arrested by Chennai police in a Rs 100 crore fraud case. They were released from jail in July and shifted to Hyderabad. They distributed pamphlets in Trimulgherry and soon set up a fake call centre.
Twenty-four staffers were hired by the duo to lure customers to invest in health-related insurance policies and multi-level smart investment schemes, all of which were fake. The duo cheated nearly 55 people from whom an amount of Rs 5.5 lakh was accumulated.
DCP P Radhakishan said, “The racket was busted in the initial level where the duo were still obtaining customers and making them invest small amounts. They were using the money to pay staffers salaries ranging from Rs 8,000 to Rs 15,000.”
The duo were arrested by the North Zone Task Force on Thursday and have been remanded to judicial custody.