Held for ‘duping investors of Rs 100 cr’

A man from Tamil Nadu, who had duped several prospective industrialists of nearly Rs. 100 crore with offer of ‘solar energy business opportunity’, was arrested by Hyderabad police on Tuesday.

The accused, Boaz Augustin alias David Boaz, who had claimed himself as chairman and managing director of Borg Energy India Private Limited, was facing seven criminal cases in different parts of the country.

Nearly 40 of his victims from Delhi, Telangana, Andhra Pradesh and Tamil Nadu had created a WhatsApp group to coordinate and ensure that he was behind the bars.

The accused had created websites in the name of borgenergy.com and borgsolar.com. He had maintained that the company was into installation of solar power projects and had many patents to its credit, Hyderabad Additional Commissioner of Crimes, Swati Lakra, said at a press conference.

He had impressed prospective investors and industrialists with the offer of providing finance to solar power projects. He would win over the investors by offering 90 per cent of loan through his own company, Borg Capital Private Limited.

He had allegedly collected Rs. 1.38 crore from the owner of Sushee Ventures, K. Narsi Reddy. When he had insisted on the finance, Borg had allegedly dilly-dallied the project and eventually disappeared.

A special team of Cyber Crime sleuths tracked Borg and finally arrested him on Tuesday.