A jeweller was arrested by the Jubilee Hills police for his involvement in dishonest and monetary frauds focusing on a number of buyers, together with Tollywood and Bollywood celebrities.
The accused, Thonangi Kanthi Dutt (24), who ran Tritiyaa Superb Jewelry retailer in Jubilee Hills was arrested on Saturday (November 30) following a criticism from Tippala Srija, a Hyderabad resident.
In keeping with the police, the person operated varied corporations to draw buyers and promised them big income on their investments. Nevertheless as the cash got here in, he misappropriated the funds. He additionally solid paperwork to take away the administrators from their positions, switch their shares and finally dissolve the corporate citing monetary losses, the officers stated.
The problem got here into gentle after Ms. Srija lodged a criticism with the Jubilee Hills police in February 2024. She, together with Kanthi Dutt, established Tritiyaa Superb Jewellers Pvt. Ltd. in June 2023. The complainant invested ₹2.5 crore in August for the corporate’s growth. A couple of days afterward August 28, the accused solid a resignation letter and eliminated her from the place of director and appointed his mom Thonangi Sridevi in her place.
The investigation confirmed that this was not the primary time he had cheated buyers. In 2019, he established Sustainkart Market together with Shilpa Reddy, a famend designer. As further buyers approached and funds had been raised, he launched non-public labels with superstar partnerships, together with Bhoomitra with Keerthi Suresh, Kare & Karess with Kajal Agarwal and FromVedas with Vedasri Nadendla. The corporate was closed in June 2023 after misappropriation of funds and reporting losses to stakeholders.
The police stated the person has additionally cheated many different buyers below the pretext of offering franchises of Naomi and Sustainkart Market. He was beforehand booked by the Jubilee Hills and Madhapur police and Hyderabad Central Crime Station for related offences. Additional investigation is below manner.
Revealed – December 02, 2024 09:20 am IST
