Hyderabad: The police arrested a notorious cheat today, along with three others, including his two wives, who they alleged were involved in several cases of cheating the public to the tune of around Rs 10 crore.
On receiving a tip-off, a special team arrested, Jinna Srikant, his two wives Jinna Mita and Jinna Ahalya, besides one M Venkat Reddy from Kompally, the police said.
Police seized five vehicles, three computers and electronic gadgets besides documents pertaining to immovable properties measuring 42 acres of land and gold ornaments worth Rs 5 lakh, allegedly purchased with money misappropriated from victims.
The accused had placed advertisements claiming that huge money could be earned by investing in various schemes run by them, within a short period of time, an official press release said.
They lured the public with initial subscriptions of Rs 13,680 per month for a period of two years with attractive returns.
Later, they cheated their victims by not returning their amounts, the release said.