The Fraud and Misappropriation wing of the Central Crime Branch arrested a man and his girlfriend for cheating hundreds of investors by offering high returns in their real estate business.
Kanakapura residents M.C. Lokesh (36) and Vinaya (30), posing as owners of a real estate company, lured many with several construction projects, including homes and hospitals, and got them to fund the non-existent projects while promising high returns. They even issued blank cheques, only to flee when the investors turned up seeking their returns. Following complaints, the police arrested them and seized 1 kg jewellery and Rs.10 lakh in cash, apart from other possessions.
The duo has been remanded in judicial custody.