Hyderabad: Crime investigation department (CID) officials arrested a white-collar offender involved cheating cases to the tune of Rs 50 lakh and produced him before court.
The accused Puri Kiran, 47, who runs a kirana shop, is from Jallapur village, Manopad mandal in Jogulamba Gadwal district. A cheating case has been registered against him by Wanaparthy (T) police. CID officials took into custody the accused and shifted him to judicial remand. They said that Kiran, along with Teppali Suresh Babu, Teppali Kishore Babu, Puri Suresh Shetty and J Mahesh established Akshara Gold resorts Pvt. Ltd and indulged in businesses that violated RBI guidelines.
"They gave wide publicity through pamphlets and brochures in Wanaparthy town and surrounding areas, collected huge amounts as deposits from the innocent public. They failed to register land in the name of the member and closed the company unannounced," CID officials said.
