Bengaluru: Hyderabad businessman falls victim to liquor business scam; Kerala couple arrested

Team Udayavani, Aug 14, 2023, 11:35 AM IST

A Hyderabad-based businessman, KR Kamlesh, found himself ensnared in a fraudulent liquor business scheme, leading to the arrest of a couple from Kerala by the HAL police.

Subish P. Vasu and his wife Shilpa Babu were apprehended for allegedly cheating Kamlesh  of Rs 65 lakhs.

The accused duo purportedly ran a company named Business Exchange Group LLP, luring Kamlesh in 2022 with promises of a lucrative liquor trade venture. They convinced him to invest in importing and distributing foreign liquor across states, offering sub-dealerships and tempting profits.

Kamlesh transferred Rs 67 lakhs as an advance deposit to the accused’s company and even signed an agreement. However, when the promised business failed to materialize, Kamlesh demanded his money back. The accused failed to reimburse him, prompting Kamlesh to file a complaint. Based on this complaint, the HAL police took action and arrested the couple.

Further investigations have revealed a trail of deception, with the accused misusing the names and images of political leaders, central and state government officials, and prominent figures to lend credibility to their fraudulent activities.