Police have arrested four persons from the city who had allegedly run away after duping about 1,800 people to the tune of Rs five crore by promising hefty returns.
K Vishnu Vardhan Goud, Surineni Upender, Mohamoud Jahangir, who had set up money-laundering finance company Suraksh Infra Group at Akkayyapalem last year, were arrested from Visakhapatnam railway station on Sunday evening, DCP (Law and Order) P Viswa Prasad said today.
Another person, identified as M R J Kumar of Munagapaka area, was also arrested yesterday, he said.
"In order to lure the people, they introduced some attractive schemes with hefty returns. Though Suraksh Infra Group was a fake company, around 1,800 depositors fell into the trap. The company collected Rs five crore in just four months. It finally stopped operations in January this year and the company office-bearers ran away," the DCP said.
Further investigation in the case is on.
