Hyderabad: The Hyderabad Central Crime Station (CCS) police on Friday arrested three persons for allegedly colluding with Chinese nationals to establish fake companies using fake documents in the city and making illegal money transactions.
The arrested persons were Adabala Srinivasa Rao, 46, Narala Vijay Krishna, 37, and Kannareddy Vijay Bhaskar Reddy, 46, all Hyderabad residents.
Joint commissioner of police, CCS, Avinash Mohanty said that a case was registered against the accused based on complaint lodged by Registrar of Companies (RoC), Hyderabad.
"The three accused colluded with Jolie and Michale, Chinese nationals, and eight other accused and registered 12 fake companies with the RoC, Hyderabad by forging signatures of houseowners on the no objection certificate,” he said
“They opened 15 bank accounts in the name of these companies, collected huge amounts from public through online investments and cheated them. On verification of two bank accounts, it was found that the accused collected about Rs 2.42 crore and the same was withdrawn by them," Mohanty said.
