Mancherial Man held for Cheating People of Rs 2.11 crore

Karimnagar: The task force police officials arrested a person on the charges of cheating people of '2.11 crore in the name of share-market investments in Mancherial on Tuesday. The police also seized credit cards, bank passbooks and '8,100 cash from his possession.

Speaking to the media, commissioner of police Rema Rajeswhari said that the accused, Chevva Ravi, 43, a resident of Mancherial had been absconding for the past five months after cheating the people in the name of share-market investments.

The CP said that Ravi collected around '2.11 crore from around 50 persons of Mancherial and Peddapalli district by making them believe that they will get huge amounts of profits by investing in share-markets. After receiving several complaints from the victims at various police stations under Ramagundam police commissionerate limits, special police teams were deployed to nab the accused, the CP said. She stated that the police personnel nabbed the accused at railway bridge area in Mancherial town.