Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Mar 16: The police, who are probing the scandal amounting to about Rs 700 crore involving Vikram Investment Company, are frustrated with the fact that only 160 out of about 700 persons who invested with this company, have come forward with complaints. Director of the company, Raghavendra Srinath, they said, is not
revealing anything.

In the meanwhile, the police are culling out details from bank accounts in the name of the company, its directors, and relatives. The police said that the accused had collected money through cheques and therefore they hope that they would be able to collect full details from bank officials on the basis of cheque numbers. They are getting good response from banks concerned, they stated.

Raghavendra had opened 'Vikram Global Commodies' firm in APMC Market, Yeshwantpura. His Vikram Investment Company was also launched from the same premises. As per information, Raghavendra opened three accounts in the name of Vikram Global Commodities, four accounts in the name of Vikram Investment Company , three savings bank accounts in his name and two accounts in the name of his wife, Suneetha Acharya. Although crores of rupees were deposited into these accounts in the past, only Rs 5,000 remains in the accounts now. The accused is not providing explanation about where the money has gone, the police stated.

A senior officer said that disappearance of Suneetha Acharya immediately after Raghavendra and his agents were arrested, has given rise to suspicions. The police said that it would have helped them if the remaining 540 customers who were cheated also came forward with details and filed complaint. The income tax officials are also putting together details and they suspect that the company would have cheated on income tax too.