Daijiworld Media Network – Mangalore (SP)

Mangalore, Mar 7: The Suratkal police personnel arrested Mayyaddi (62), and his wife, Jubaida (52), residents of Katipalla first stage, from near the railway station in the city on Sunday march 6. This arrest was made on the basis of complaints of cheating and fraud lodged with the policemen by a number of people.

The couple, it is reported, have fleeced the gullible villagers to the extent of  several crores of rupees. They started the business of accepting deposits and pledge of gold ornaments from the people of their community since October 2010. They promised high monthly returns on such deposits, and to give back the principal amount and gold ornaments, as and when needed by the depositors.

Initially, the couple paid good commission on the deposits along with bonus. Over 40 persons, attracted by the lure high returns, deposited cash and gold ornaments worth crores of rupees with the couple. In return, they were issued bonds and bank cheques. After the depositors came to know that the two had suddenly closed their business and decamped a week back,  and realizing that they had lost their money and ornaments, they lodged complaints in Suratkal police station, accompanied by records. Some of the complainants have lost between five and ten lacs of rupees, and all of them have enclosed the bonds and cheques issued by the couple, to their complaints. As per information, about 40 more such cases are yet to be registered.

Panambur deputy superintendent of police, Puttamadaiah, Suratkal police station in-charge, Belliappa, sub-inspector, Ramesh and other personnel were involved with the operation to nab the couple. Investigation is in progress.