Four Member Group Allegedly Takes Rs 8.25 lakh Cash, Cheats Investor in Kalaghatagi

Hubballi: A four member group allegedly cheated an investor taking Rs 8.25 lakh assuring that his money would be doubled once his money invested in the share market. The incident reported at Kalaghatagi taluk of Dharwad district. The incident came into light when the victim, investor Jagadeesh filed a complaint at local police station here on Tuesday. 

A police complaint registered against Manjunatha Ullagaddi, Raju Patnashetty, Shivashankar Banavannanavara and Machapura Thanda resident Shrinivas Lamani. The four member team reportedly running a company, Sneha Communication for share trading and the gang obtained the sum from Jagadeesh assuring him, the sum would be doubled within a short period of time after investing it in share trading. However, the group failed to return the cash as assured to the investor and following their unexpected move, Jagadeesh decided to lodge a complaint at local police station. 

Jagadeesh also alleged that the four members have also took cash worth in crores as a sum for investment from many investors assuring them huge return.