B’luru: Businessmen conned of Rs 5.85 crore; five held

Bengaluru: Five persons accused of duping Rs 5.85 crore from businessmen on the pretext of securing them loan have been arrested by the Suddugunte Palya police personnel.

The arrested are identified as Syed Ibrahim alias Daniel Armstrong, Vivek alias Vicky, Christopher alias Raghavan Raghuvaran, Shivaraman alias Nagaraju.

Police confiscated Rs 4.1 crore worth gold valuables, Rs 36.6 lakh in cash, two luxury cars worth Rs 45 lakhs and Rs 1.86 lac in the form of different currency notes from their possession.

The accused had duped two businessmen by luring them with the offer of Rs 400 crore loan and had asked them to pay Rs 5.85 crore in the form of advance interest for three months.