The Central Crime Branch (CCB) officials on Tuesday arrested two people who were operating an investment company illegally luring people with the promise of huge returns for their investments. Based on a tip-off, a team of officials from the Economic Offences Wing raided Pramya International, situated in Konanakunte and arrested the accused.
A probe revealed that the accused had been operating the company for over one year, having over 700 investors with an approximate investment of ₹25 crore. The accused are suspected of having been running the business based on a Ponzi scheme offering huge returns. The accused had purchased several movable and immovable assets in their name using the investment money.
They started avoiding the investors and planned to wind up the firm and escape, but they were however caught before that. The police have seized cash of ₹7 lakh from them along with the documents for further investigation.
