Three held for duping 300 investors of Rs 2 crore

Three members of a gang were today arrested for allegedly duping 300 people to the tune of Rs 2 crore, police said.

Acting on a tip-off, Central Crime Station (CCS), a wing of Hyderabad city police, arrested Dasari Srikanth, a businessman, P Rukmini Devi, president of Bhavani Mahila Mandali and A Anuradha, warden of College of Nursing (Osmania General Hospital), police said.

Srikanth, along with the arrested accused and 6 other absconding accused, including an anganwadi worker Soudha Kumari, had allegedly conspired and started the Mahila Mandali in 2011, police said.

The accused lured nearly 300 members of a local organisation promising to provide loans and allot houses under government's Jawaharlal Nehru National Urban Renewal Mission (JNNURM), 'Rajiv Gruhakalpa' and 'Indiramma Runalu' schemes, police said.
 

They collected Rs 13,000 from each member promising them Rs one lakh loan and also collected Rs 25,000 from each towards allotment of house sites respectively, police said.