The Bengaluru police have filed charges against Kannada film producer Arun Rai and four others for allegedly defrauding businessman Varadaraja T of Rs 9.60 crore. The accused, including Arun Rai, Arjun Rai, K P Srinivas, Raghu, and Govindappa, are being investigated following Varadaraja’s complaint.
Varadaraja, who owns a cashew nut processing unit, suffered significant financial losses amounting to Rs 25 crore during the Covid-19 lockdown, leading to the closure of his business in April 2023. He later met Arun Rai, who claimed to own several businesses and had worked on films like Veera Kambala and Jeetige. Arun Rai allegedly assured Varadaraja that Kannada director S V Rajendra Singh Babu would pay him Rs 60 lakh in profits from Veera Kambala.
Convinced by these claims, Varadaraja transferred Rs 9.60 crore to Arun Rai and his associates with the promise of making a profit from their businesses. However, after the transaction, Arun Rai stopped responding to calls and avoided meetings, prompting Varadaraja to file the police complaint.
Additionally, Arun Rai purportedly claimed to have a business relationship with Tesla CEO Elon Musk, further persuading Varadaraja to invest. To raise the money, Varadaraja reportedly borrowed funds from friends in Dakshina Kannada.
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