Now Reading: Bangarpet firm manager arrested for Rs 10 crore job scam
-
01
Bangarpet firm manager arrested for Rs 10 crore job scam
Police have arrested the manager of Sri Kalikadevi Enterprises in Bangarpet, Kolar district, for allegedly duping 1,131 people of Rs 10.53 crore. The company promised self-employment schemes like packing incense sticks and…
The Story in Brief
Police have arrested the manager of Sri Kalikadevi Enterprises in Bangarpet, Kolar district, for allegedly duping 1,131 people of Rs 10.53 crore. The company promised self-employment schemes like packing incense sticks and making paper plates, targeting unemployed women. Investors were guaranteed monthly payouts of Rs 21,780 on a Rs 1 lakh deposit and Rs 10,500 on Rs 50,000. Victims came from Kolar, Andhra Pradesh, and Tamil Nadu.
When the company stopped payments for three months, investors besieged the office. Manager Venkatachalapathy sought time till August 10 but then absconded. Owners Kiran and his wife Arathi were earlier arrested by Devanahalli police. Venkatachalapathy was later caught and remanded in judicial custody.
The Indian Opinion
The Bangarpet case is a textbook trap: promise easy money to the unemployed, collect crores, then vanish. The 'work-from-home' plan lured over a thousand people, mostly women, with absurd returns like Rs 21,780 monthly on a Rs 1 lakh deposit. No one asked how incense-stick packing could yield 26% monthly profit. The real test is whether police can recover the money fast, before the trail goes cold. What will the arrested manager reveal about the masterminds?
Source: deccanherald.com
This story was synthesised by AI from the source linked above.
