Businessman arrested on charge of duping over 250 investors

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Mass Copying Case Crime Branch files charge sheet against 5 chargedA 43-year-old businessman has been arrested by Central Crime Branch sleuths on the charge of duping over 250 investors of nearly Rs 6 crore.

The arrested person, Ramesh Kumar S., is the owner of RKS Commodities and Trading Company, situated on Magadi Road in Vijayanagar. In 2012, he lured investors into depositing money with him by offering huge returns. He paid hefty returns to some depositors to lure more investors.

After collecting their money, he disappeared. He changed his mobile numbers to avoid his victims, police said.

Based on a complaint filed by one of the victims in Vijayanagar police station, CCB officers tracked him down on Saturday. He was arrested while trying to board a train in Yeshwantpur Railway Station.

Preliminary enquiries revealed that Ramesh Kumar had duped hundreds of depositors in Andhra Pradesh, Odisha, West Bengal, Uttarakhand, Bihar, Rajasthan, Uttar Pradesh and other parts of the country. Police found Rs. 1.6 lakh, a laptop and a mobile phone on Ramesh Kumar.

He allegedly swindled them of Rs. 6 crore

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