Bengaluru: A promised post graduation seat in one of the reputed medical colleges in the city helped Rajath Shetty 31 and Jayaprakash Singh also 31 dupe people of crores of rupees. The two have now been arrested by the Mico Layout police.
Rajath Shetty, a BE graduate from Kumdapura had earlier worked for an IT company for two years and later set up a consultancy firm. The police say that he had opened Global Learning and Educational Consultancy in BTM II Stage under fake identities and went ahead to fool the students and their parents of crores promising them PG medical seats. It is alleged that the accused had earlier got a few student admissions, thereby, winning the confidence of others.
The second accused in the fraud Jayaprakash Singh, 31 hailing from Jharkhand who came to the city in search of a job joined Rajath’s office and their fraudulent admission sprees began.
The accused are believed to have duped aspirants and their parents of lakhs of rupees and invested them in real estate and stock exchange. From buying expensive vehicles to going on foreign tours with their families the two are believed to have squandered nearly Rs 40 lakh on the interior decoration of their new fake consultancy office.
2013 saw Rajath booked for eight cheating cases within the Manipal police station limits.
The accused are believed to have transferred money earned through fraudulent means to their relative’s accounts. The police have recovered fixed deposits worth Rs 50 lakh in a private bank in their relative’s account, Rs 12 lakh deposit in their personal account and Rs 20 lakh which was given as an advance to buy an apartment in Electronics City reports Deccan Chronicle.
Their bank accounts have been frozen as the police are carrying out an investigation. Have registered a case the police are on the lookout for further evidence in the case.