Mangaluru: Money doubling racket - students lose over Rs 50 lac


Daijiworld Media Network - Mangaluru (SP)

Mangaluru, Jul 24: Police personnel of Barke station in the city arrested a college student from the city on Saturday July 22. The student has been accused of swindling over Rs 50 lac from a number of students of a college in the city, after collecting this sum from them with the promise of doubling their money.

The arrested accused happens to be Vinod (22), a native of Sangli in Maharashtra. Vinod's family has been living in an apartment at Dongerkery in the city since the last about 25 years. Reportedly the family get income out of preparing and selling Chapathis.

Vinod, it is said, had borrowed three lac rupees from Sunil Shetty, a final year BCom degree course student from his college, on May 19 this year reportedly for event management business. Sunil is from Talapady. On that occasion, Vinod not only gave in writing that he would repay the sum borrowed within a week duly affixing his signature and thumb impression on the paper, but also issued three cheques on a bank at Car Street here towards repayment of the sum borrowed. He also reportedly made Shetty believe that his father owns a gold jewellery business.

As Vinod failed to repay the money promptly, Sunil became suspicious. He repeatedly sought his money back, but Vinod tried to evade the issue by putting forth various reasons. Sunil thereafter filed police complaint.

The police have since got information that Vinod has defrauded over 50 students of the college to the extent of more than Rs 50 lac. Several students have since filed complaints with the police about having been cheated in similar fashion by the accused. The accused was produced in court whereupon he was remanded to judicial custody.

  

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Comment on this article

  • Rita, Germany

    Tue, Jul 25 2017

    Parents are working to pay his fees.and this boy has something in head than pleasing parents and study.Now they have to make further chapatis ,instead of living appily with son.And students lent money from their parents ,.Good win.When one work hard then only they realize the value.Now he can make chapati in future in jail.Police will give the lathi.spoiled his future.

    DisAgree Agree Reply Report Abuse

  • J.F.D SOUZA, Attavar, Mangalore

    Mon, Jul 24 2017

    Many such persons in our Society. They dupe in many ways and some people invest money in their schemes and lose and go for suicide. In addition to money they lose their precious lives.

    DisAgree Agree [9] Reply Report Abuse

  • Mahathma, Mangalore

    Mon, Jul 24 2017

    Time to prepare and eat chapatis in jail!!!

    DisAgree Agree [21] Reply Report Abuse

  • Beowulf, Mangalore

    Mon, Jul 24 2017

    At least the duped student will learn a lesson from all this..... nothing doubles in real life....

    DisAgree Agree [18] Reply Report Abuse

  • JNB, Mangalore-Mumbai

    Mon, Jul 24 2017

    From Chapathi making to business management!

    DisAgree Agree [23] Reply Report Abuse

  • Mario, Lalbagh

    Mon, Jul 24 2017

    This chapati guy we can make him dough. Make chapati out of him once he repays money to this foolish people who gave him money.

    DisAgree [1] Agree [13] Reply Report Abuse

  • Dinesh, Dubai

    Mon, Jul 24 2017

    FINALY KHANGRESS GOT SUITABLE CANADIDATE FOR MOODABIDRI ASSEMBLY.

    DisAgree [55] Agree [22] Reply Report Abuse

  • Alan, mangalore

    Mon, Jul 24 2017

    Dinesh, B.J.P has already got the likes of this Candidate like Palemar, Yeddy , Reddy & Raghpathi Bhat, NO need to look further ,ha ha,

    DisAgree Agree [3] Reply Report Abuse

  • David Pais, Mangalore

    Mon, Jul 24 2017

    failed 2 get 15 lakhs 2 all da poor people as promised vinodh fraudulently succumbed 2 money racket

    DisAgree [21] Agree [19] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Mon, Jul 24 2017

    First time in 70 years ...

    DisAgree [28] Agree [27] Reply Report Abuse

  • Sachidanand Shetty, Mundkur/Dubai

    Mon, Jul 24 2017

    Pakka Politician..... In next election.....he will contest the election with Party ticket of one of the Party in Karnataka for sure

    DisAgree [11] Agree [29] Reply Report Abuse


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