Kundapur: Police, on Friday, arrested Molahalli Ganesh Shetty on the charges of abetting the suicide of Kundapur-based businessman Katte Bhojanna.
Bhojanna had shot himself to death with a revolver at the verandah of Ganesh Shetty’s home on May 26. A death note explaining the reason behind the suicide was later recovered.
The note, written in Kannada, mentioned the names of two individuals, gold jeweller Molahalli Ganesh Shetty and broker Hangalur Ismael. The deceased had allegedly invested about Rs3.34 crores and about 5 kg in a scheme promoted by the duo in February 2013. However, the same was not returned, incurring a substantial loss and mental agony.
Based on the evidence, police arrested Ganesh Shetty and produced him before the magistrate. Shetty was remanded to police custody for 14 days.
The second accused, Hangalur Ismail, has been absconding. Efforts are underway to trace his whereabouts, police sources said.
Meanwhile, the last rites of Katte Bhojanna were held on Friday at the crematorium near Chiikansal in Kundapur.