Karnataka: Police arrest conman in ‘Paisa double scam’ for defrauding woman of Rs 70 lakh in Mandya

Bengaluru police arrest a swindler who defrauded a woman from Andhra Pradesh of 70 lakhs, promising to double her investment. The accused, using multiple aliases, exploited her trust with false promises linked to a spiritual figure. After a thorough investigation, authorities seized a portion of the stolen money and apprehended the accused in Mysore.

The Karnataka Police have arrested a swindler involved in a fraudulent scheme promising to double investments, leaving a woman from Andhra Pradesh duped of a staggering 70 lakhs. The arrest came after an extensive investigation led by District SP N Yatish, uncovering a trail of deceit and betrayal. 

The accused, identified as Shivabuddappa alias Surya alias Ajay alias Govardhan alias Sambhashiva, aged 42, hailing from Kuppam in Andhra Pradesh, executed the elaborate scam that preyed on the victim's trust and aspirations for financial gain. Exploiting the victim's faith, the conman, in cahoots with a purported spiritual figure, lured the victim with promises of doubling her investment, claiming association with Sri Shambhulinga Swamiji of Sri Nirvaneshwar Virakta Math.

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The victim, a resident of Singanallur village, fell victim to the scheme after being introduced to the accused through the Shalom Educational and Charitable Trust. The accused, leveraging the victim's belief in his fraudulent promises, convinced her to invest 70 lakhs, assuring her of doubling the amount to a staggering 25 crores. The deceit was further perpetuated through the demonstration of a 'magic show,' where fake currency was flaunted to cement the illusion of wealth multiplication.

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However, the victim's dreams turned into a nightmare when, on January 1, the accused, under the pretext of fulfilling his promise, orchestrated a cruel betrayal. Inviting the victim to his residence, he served her drugged juice, rendering her unconscious, and subsequently absconded with the entire sum of 70 lakhs.

Upon realizing the deception, the victim complained to the Belakavadi police station, triggering a meticulous investigation spearheaded by Malavalli DySP and Halaguru CPI. After relentless efforts, the authorities successfully apprehended the accused in Mysore, seizing a significant portion of the stolen money amounting to 43,88,500, along with the vehicle used in the crime and multiple mobile phones. The accused, who had rented a house in Mysore using the ill-gotten gains, also faces charges in 11 other cases.