Hyderabad: The cyber crime police on 12 April arrested a 52-year-old man for cheating investors to the tune of Rs. 3.35 crores.
Turlapati Satish and his wife Gayathri collected deposits illegally from five people who had invested in their business to trade, market, and distribute pharmaceuticals and nutraceutical products. The business, under the name Unituss Life Sciences, is located at Station Road, Kachiguda, in Hyderabad.
The couple also tried to cheat people by opening a company in the name of HMA (Hyderabad Millionaire Alliance) Network Pvt. Ltd. at Hyderabad. Earlier, they were involved in a similar type of offense registered at Bahadurpura police station.
Satish was arrested on Monday and produced before the court while his wife was arrested on 19 February and sent to judicial custody.