TRS man dupes people of 12cr `

In a multi-million scam, TRS local leader C. Narasimha Reddy and businesswoman J. Aruna Reddy cheated gullible people to the tune of `12 crore after promising to provide gold and steel materials at a subsidised price.

The duo, along with two other associates, lured many victims in the past one year and collected around `8 crore in cash and property worth `5 crore. They told the victims that they run a venture called the Dwaraka Krishna Group of Companies. When the victims asked for repayment, the accused threatened to kill them, Central Crime Station police said.

The CCS police arrested the two on Wednesday after a month of investigation. The other arrested people are Syed Mumtaz Ali, 62, a businessman from Saidabad and Babu Chari, 40, a goldsmith from Begum Bazaar. A few more accused are still absconding. While Aruna Reddy, 42, is from Habsiguda, Narasimha Reddy is from Amberpet.

Aruna, who was already involved in a CBI case of loan fraud in 2005, would lure victims after building cordial relationships with them. “She would earn their trust by doing a few business transactions without cheating. She provided a few tola gold to one victim at a subsidised price in the initial stage. She and Narasimha would also boast of their political connections to convince victims that nothing would go wrong in the future,” said CCS DCP L.K.V. Ranga Rao.