The accused allegedly floated a company and recruited about 350 persons under daily wage commitment for manufacturing pearl and bead necklaces

Arun Chowdhary (30) from Hyderabad allegedly cheated about 350 persons in Gandhinagar area and is absconding. According to the Satyanarayanapuram Police Station SHO, Satyanandam, the accused was staying in a lodge in Gandhinagar since July 2013. He also floated a company and recruited about 350 persons under daily wage commitment for manufacturing pearl and bead necklaces.

Deposits from franchisees

Mr. Satyanandam said that though he was paying between Rs.70 and Rs 80 as wages, he had collected Rs. 1,500 from each person as caution deposit.

He even floated franchises and collected about Rs. 75,000 as deposit.

“About seven franchisees have come forward so far and we are yet to ascertain from how many he had collected the deposit money,” said the inspector.

As per the police, it is estimated that he had collected amounts to the tune of about Rs. 10 lakh.

On January 2 he vacated the lodge, closed down the office that he opened near the lodge and has been missing since then.

Based on a complaint filed by the members, the police have booked a cheating case and are investigating.

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