Hyderabad: A mobile store owner from KPHB, who cheated businessmen who had invested in the store for Rs 50 lakh, has gone missing. Over 30 persons who had invested in the shop approached the police.
K. Vijaya Lakshmi, K. Shivaram, L. Arun Kumar and Y. Lakshma-napavan Kumar along with few others started a mobile store in Nizampet and made P. Subra-manyam incharge of the store. Subramanyam was the common choice as all of them knew him and he was also experienced in the business. As he gained their confidence, he collected post-dated cheques from them to submit to stockists.
“He submitted cheques valued at Rs 50 lakh to the stockists and received the goods. Later, he switched off his mobile phone and vanished along with his family,” the victims said. They told the police that he had collected Rs 4 crore from other victims. Based on their complaints, a cheating case was registered against Subramanyam.
