Bengaluru: Halasuru Gate police have arrested seven individuals, including a woman, for allegedly defrauding a 34-year-old businessman in a bogus investment scheme. The accused posed as representatives of a foreign company based in Malaysia and promised to double the victim’s money within a day.
The gang convinced the victim to invest Rs 2 crore, claiming the company, “Malaysia OIA: Achithi Inchit Cedi Hchiz,” would return Rs 3.5 crore via RTGS/NEFT within 24 hours. After visiting their office in Nagrathpet, the businessman handed over the money, only to receive a small advance of Rs 9,780. When the promised funds did not materialize, the victim found their office shut, and the suspects’ phones switched off.
The police arrested the seven accused in Bengaluru and Mumbai. Three are from Kerala, one from Mumbai, and three from Bengaluru. Five members of the gang are still on the run. The accused have been charged with cheating and fraud.
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