Cab Service Owner Arrested for Fraud
Written by: Akshaya Avadhani - March 18, 2017
On Friday, a cab service owner was arrested for duping 180 car owners of Rs. 2 crores. The owner promised to pay these owners huge amounts in return for leasing their vehicles and failed to do so, upon which he was arrested by the KPHB police.
V. Kiran Kumar, the accused had opened a car rentals service named ‘Unicabs’ two years ago at Chaitanyapuri. He then shifted to Sai Plaza in the Hderguda area. He leased cabs from their owners and promised an amount of Rs. 20,000 every month in return. Apart from cabs, he also collected an initial payment of Rs. 1.5 lakh from the cab owners.
Ch., Kushalkar, KPHB Inspector said, “While those who leased the cars, had to pay Rs. 1.5 lakh, even people who do not own a car could be part of Kiran’s business by paying `4 lakh. Kiran used to tell such people that he would purchase a car in their name and also pay Rs. 20,000 every month.”
Over the last few months, he stopped paying the promised amount after collecting over Rs. 2 crores. When the accused stopped coming to the office, the cab owners, Victims, lodged a complaint at the Kukkatpally Housing Board Police station in February. He was arrested from Hyderguda on Friday in a fraud case. He was produced in the court and has been remanded to judicial custody.
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