HYDERABAD: The Crime Investigation Department arrested a person identified as M Dinesh Kumar alias Santosh Kumar (A5) for allegedly cheating an unemployed youths of Rs 3 crore by falsely promising jobs, collecting huge amounts and subsequently misappropriating the funds.
A case was registered against him under Sections 420 read with 34 of the IPC and Sections 3 and 5 of the Telangana Protection of Depositors of Financial Establishments Act, 1999, at Panjagutta. Subsequently, the case was taken up for investigation by the CID.
CID director general Charu Sinha said that during the course of probe, it was revealed that the accused had established regional offices in Hyderabad, Warangal and Khammam and collected around Rs 3 crore from nearly 1,194 victims under the guise of providing jobs before allegedly misappropriating the money.
On May 20, Dinesh Kumar was arrested by a CID team and produced before the Chief Judicial Magistrate Court in Coimbatore in Tamil Nadu. Thereafter, he was brought to Hyderabad on a transit warrant and produced before the Nampally court for judicial remand.
There are 11 cases registered against the same firm, all of which are being investigated by the CID. So far, 12 accused persons have been arrested. Police said Dinesh Kumar is also involved in the remaining 10 cases.
Police said the accused, under the guise of “Happy Future Multipurpose Cooperative Society Ltd”, lured unemployed educated youth by offering false assurances of employment opportunities. Believing the promises made by the accused, several unemployed youth deposited huge amounts of money with the society. After collecting deposits from the victims, the accused allegedly misappropriated the funds and cheated them.