HYDERABAD: Panjagutta police on Friday arrested two people, Patari Venkata Siddaiah(32) and Tholikonda Venkata Avinash (28) for running a fraudulent firm named Ansoft Technologies and duping money from 30 to 40 unemployed youths with the promise of jobs. Managing director Venkata Siddaiah and HR manager Venkata Avinash had collected huge money promising to provide training and then jobs to aspiants in their company. Both of them conspired and collected cash ranging from `1 lakh to `2.5 lakh from each person and managed to amass an amount of `26 lakh. Based on a complaint, Punjagutta police registered a case.
Police said that the accused confessed of having cheated unemployed youth earlier as well through another fake organisation called “Code Semantics” at NFCL, Nagarjuna Circle, Panjagutta, Hyderabad whose MD is Nagarjuna.