Businessman arrested for duping over 100 people of Rs.1.4 crore

A businessman has been arrested for allegedly duping over 100 people by collecting Rs 1.4 crore from them in 2011 under the pretext of providing loan, police said today.

The accused, Chakka Surendra Kumar, was arrested from Nellore district yesterday and brought to Hyderabad today and remanded in judicial custody, police said. Surendra Kumar, who ran Info Media Software Solutions and Info Media Financial Solutions in Hyderabad, allegedly cheated over 100 persons in the name providing loan, they said.

As part of Kumar's business plans, he told people that he would give good returns if they deposited money under different schemes and for surfing/clicking on advertisements of MNCs on his websites, police said.

Kumar collected amount of Rs 5,000 and gave user ID to such members to login in his websites for surfing/clicking advertisements for which he will be given money by such companies and in turn he would pay to the members who deposited the money with him, police explained. Falling prey to his promises, over 100 persons were cheated to the tune of Rs 1.4 crore. After collecting money, Kumar left Hyderabad in March 2011. However, following a tip-off he was arrested from Nellore last evening, they said.