The Hindu : Andhra Pradesh News : Software firm owner `plays' con game

Online edition of India's National Newspaper
Sunday, May 29, 2005

Andhra Pradesh

Andhra Pradesh

Software firm owner `plays' con game

Staff Reporter

HYDERABAD: The Sanjeevareddy Nagar police on Saturday registered a cheating case against the proprietor of JB Software Solutions, Satyanarayana, after he allegedly vanished with over Rs. 50 lakhs he had collected from various persons.

At least 10 persons, who found the office of the firm closed on Saturday, lodged a complaint. They said that Satyanarayana offered to return double the amount invested after nine months under the data entry programme.

Initially, when the firm was set up two years ago, Satyanarayana did return the amounts. "The scheme was only for those who could invest Rs. 30,000 to Rs. 3 lakhs," said the Inspector, Venkata Ratnam.

He said most of his customers hailed from Adilabad, Karimnagar and Warangal districts. He had also given franchises to various persons. It was believed that there would be more investors and that the amount collected could run into crores of rupees. The police went to Satyanarayana's residence at Balkampet. But he could not be traced.

Man kills brother

Mohammed Sayeed Bin Irfan (25) was done to death allegedly by his elder brother under the Chandrayangutta police limits on Saturday.

According to the police, Irfan had a heated argument with his brother, Mohammed Ali Bin Irfan, at their residence at Barkas on Saturday evening. Sayeed was believed to have attacked his brother with a knife.

In the melee, Ali picked up a pestle and reportedly hit Sayeed on his head.

He died on the spot. Ali later surrendered before the Chandrayangutta police.

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