Daijiworld Media Network - Bengaluru (SP)

Bengaluru, Aug 12: Police personnel attached to Cubbon Park police station here have succeeded in arresting a lady, S Balambal, who was required in a forgery and fraud case amounting to Rs 70 crore involving Manipal Education and Medical Group.

It is said that Balambal and main accused in the case, Sandeep Gururaj, are close to each other. Sandeep had transferred two and half crore rupees to the account of Balambal, it has been claimed. Moreover, an additional sum of Rs 13 lac was also handed over to Balambal by Sandeep, the policemen claim. They said that she was taken into custody from Chennai on the night of Friday on the charges of financial irregularities.

A few days before the said fraud, Sandeep Gururaj is said to have met Balambal and her husband in a resort at Chennai. He had discussed with them the issue of investing in certain businesses. Investments were thereafter made in certain businesses at Bengaluru and Chennai, it is said. The police have information that Balambal had invested the money she received from Sandeep Gururaj in share market.

The police said that in this background, Balambal was taken into custody for five days for questioning her and extracting more details about the said case.