Promising to set up a firm, conmen cheat businessmen of Rs 33 lakh

Businessman Somashekhara Raju (31), a resident of Laggere, has alleged that four persons conned him and his partners by promising to set up a company for them. However, even after 19 months, the firm was never opened although the expenses kept getting added up. Raju and his two partners Shivakumar and GMK Gowdar were allegedly cheated of over Rs 33 lakh.

According to the police complaint at HSR Layout police station, the accused namely Zameer, Nadeem, Suhel Khan and Nazeer met Raju and his business partners and promised to set up an inexpensive firm near Jalahalli and promised to take care of the maintenance expenditures for three months after the company inauguration.

In addition, they promised to pay 25% of the investment amount every three months in four instalments. Raju paid Rs 33 lakh into the bank accounts of the accused. These even included payments for publicity, salaries, building rental advance, electricity, water and other equipment rentals.

The accused asked Raju to deposit the money into the bank account of Letz Cabs (Mexo Cab) in Sector 3 near Saibaba temple. Raju did what he was told.

However, the company was never inaugurated even after 19 months. And neither did the accused return the money. When Raju asked for money, he was allegedly threatened by the accused. The cops have registered a case of cheating, and criminal intimidation.