Investment Fraud in Bengaluru: two partners arrested

The Tilak Nagar police have captured two people from a money organization for purportedly tricking a few speculators by promising them exceptional yields and bamboozling them of ₹3 crore. "We think there could be more cash included," said a senior cop. 

Be that as it may, the prime charged, Habibullah Shariff, who runs the exchanging administration, which has workplaces in Jayanagar ninth Block, is slipping away. "He fled to Dubai and we have a LOC given against him," said Isha Pant, Deputy Commissioner of Police (South East). 


The other blamed, Manjunath Balraj, 31, and Masiulla Shariff, 32, are accomplices at the firm. They have supposedly been defrauding financial specialists since 2017 by promising them 10% quantifiable profits.

Based on a complaint filed by one of the investors, Zubair N., the Tilak Nagar police registered an FIR. According to the complainant, he and his relatives had deposited ₹20 lakh with the firm in December 2017. “However, the accused neither paid the promised interest nor returned the principal amount. After approaching them many times over the years, he filed a complaint,” said a police source. The police have seized two high-end cars and two motorcycles worth ₹1 crore from the accused. They have also seized the trading firm’s financial records.