Hyderabad: Two fraudsters who duped hundreds of depositors to the tune of `10 crore under the guise of yielding huge profits were arrested by the central crime station sleuths.
The accused were identified as Faiyaz Mahmood Ansari and Hamed Ali while another accused in the case, Mohd. Jahangir, is still absconding.
According to the complainant Mohd. Jeelani Shareef, under the guise of giving huge profits, the accused made several people to deposit money with them. Falling for the trap, the victims deposited money totalling over Rs 10 crore in Ansari Capital Solutions and Ansari Perfumes and Cosmetics.
Subsequently, the accused went absconding and the victims lodged a complaint with the CCS police.
Investigation revealed that the two fraudsters were taking shelter in Maharashtra. Subsequently sleuths of CCS raided the residence and nabbed them. Later they were produced before Judicial Magistrate, at Bhiwandi court and obtained Transit Warrant and brought to CCS....