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Two arrested in Hyderabad for duping investors
The Hyderabad Police has arrested two persons for allegedly duping investors. The two accused Patha Rajesham, MD, Variety Consultancy, Hyderabad and his friend Erukula Vishwanatham of Mettuguda, Secunderabad have duped the investors by accepting investment in the name of offering them huge profits.

The accused persons have cheated the gullible investors in the name of investment in Hyderabad-based Variety Consultancy from 2010 and collected an amount more than Rs.75 lakhs with a promise to return the same with high returns.

After that they wind up the business by duping the investors and used the amount for their wrongful gains.

As per their plan, P. Rajesham established Variety Consultancy with the active support of E. Vishwanatham and his brother E. Veeresham and agreed to arrange investors in share trading business.

Vishwanatham and his brother Veeresham demanded 30% of commission for arranging investors and Rajesham agreed for the same. 

The accused persons lured the investors viz. Ramakrishna Chary and others by offering good profits and collected an amount of more than Rs.1 cr from them. Rajesham had given 30% of commission to Vishwanatham and Veeresham on the amount arranged from the investors. But, they failed to give either profits or return of investment amount.

They misappropriated the investment amount for their personal and wrongful gains and caused wrongful loss to the investors.

Initially, the investors have approached to Banjara Hills Police Station and lodged a complaint against Variety Consultancy rep. by P. Rajesham and Vishwanatham, Veeresham and others for duping them in the name of investment.

Subsequently, the case file was transferred from Banjara Hills to CCS, DD, Hyderabad. On September 19, the CCS Police arrested all the accused in the case and presented them before CMM court on September 20. The court has sent them to judicial custody.

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