Film distribution firm in Hyd held for cheating
On Saturday, hyderabad police detained two individuals who ran a movie distribution business for defrauding trusting individuals under the guise of investing in movie distribution. police claim that Nagam Uma shankar and Kongara Anjamma, who own a company called shankar Films that distributes movies, tricked around 25 innocent people into making investments in the movie business.
According to a police officer, the suspects tricked the public into giving them roughly Rs 6 crore by promising them big earnings. Later, they defrauded the investors by failing to pay them either their main investment or any gains. Sections 406 (criminal breach of trust), 420 (cheating), 506 (criminal intimidation), r/w 34 (acts done by several persons in furtherance of common intention), and Section 5 of the telangana Protection of Depositors of Financial Establishments (TSPDFE) Act 1999 were used to charge the accused by the Central Crime Station of the Detective Department.
According to the police, both of the suspects were detained and brought into court. people have been urged by the police not to fall for these con artists. It stated that it is extremely unlikely for anyone to regularly provide or return more than 8 to 10 percent on any type of investment.
According to a police officer, the suspects tricked the public into giving them roughly Rs 6 crore by promising them big earnings. Later, they defrauded the investors by failing to pay them either their main investment or any gains. Sections 406 (criminal breach of trust), 420 (cheating), 506 (criminal intimidation), r/w 34 (acts done by several persons in furtherance of common intention), and Section 5 of the telangana Protection of Depositors of Financial Establishments (TSPDFE) Act 1999 were used to charge the accused by the Central Crime Station of the Detective Department.
According to the police, both of the suspects were detained and brought into court. people have been urged by the police not to fall for these con artists. It stated that it is extremely unlikely for anyone to regularly provide or return more than 8 to 10 percent on any type of investment.