Stock investor accused of duping depositors

Over 20 depositors of a private company have approached the Bowenpally police on Saturday alleging that the company owner, Bhavani Prasad, had duped them of Rs. 8 crore.

The depositors alleged that Prasad of Chandanagar had collected huge sums from them for investment in stock market and had disappeared. They charged that he was not coming to the office in Bowenpally for past few days and not taking their calls, the police said.

On Saturday evening, the depositors called two employees working in Prasad’s office to Paradise junction and picked up a quarrel with them. Later, they lodged a complaint with the Bowenpally police.