CCB Police have nabbed a 5 member gang on the charges of cheating the public to the tune of Rs 65 Cr from 500 people

Published: Jan 11, 2019, 7:49 am IST

Bengaluru, Jan 11 (UNI) Central Crime Branch (CCB) Police have nabbed a five member gang which had collected, by floating a finance company, more than

Rs 65 crore from about 500 people by promising to give three per cent to five per cent interest per month on their deposits.

Police said on Friday that the arrested were running AIMMS Vnture Company and collecting deposits by promising to pay 3 per cent to 5 per cent per month. They had even paid the interest for some time but later they neither paid the interest nor returned the deposited amount.

The arrested were identified as Ayub Ali Khan, Iliyas Pasha, Mohammed Muzahidulla, Mudasir pasha and Mohammed Shahid.

Tilak Nagar police have registered a case and investigating.