<p class="title">Kodagu police arrested three people on Monday night for cheating people through online fraud.</p>.<p class="bodytext">The fraudsters were convincing people to invest money in a Ponzi scheme on the allurement of earning double the amount invested.</p>.<p class="bodytext">John (45), a real estate businessman and a resident of third block in Tyagaraja Colony of Kushalnagar, Shashikanth (37), sales executive at BSM Motors and a resident of Shivarama Karanth Extension and Antony D’Cunha (39), manager at Diwan Housing Finance and a resident of Basaveshwara Extension in Kushalnagar, are the arrested. Four other accused from Kodagu are absconding.</p>.<p class="bodytext">Addressing reporters in Madikeri on Tuesday, Superintendent of Police Dr Suman D Pennekar said that the network was active in the state and transactions worth Rs 15 crore to Rs 20 crore were made. The accused had developed a website capitalrelations.in through a Bengaluru-based company by investing Rs 1.50 lakh and around 3,500 people had invested money.</p>.<p class="bodytext">Shashikanth, the accused, was the administrator and those who wanted to make an investment had to contact him and obtain user ID, password and three e-pins. An amount of Rs 1,000 was fixed for a single e-pin.</p>.<p class="bodytext">The amount would go to the accounts of the accused. A separate user login was provided for the invested. The money was transferred using Google Pay, Phone Pay and Net Banking.</p>.<p class="bodytext">The investors were told that after seven days, the amount will get doubled and will be credited to the investors. A few people had received the money but a lot of investors were cheated, the SP said and added that the transaction was totally illegal.</p>
<p class="title">Kodagu police arrested three people on Monday night for cheating people through online fraud.</p>.<p class="bodytext">The fraudsters were convincing people to invest money in a Ponzi scheme on the allurement of earning double the amount invested.</p>.<p class="bodytext">John (45), a real estate businessman and a resident of third block in Tyagaraja Colony of Kushalnagar, Shashikanth (37), sales executive at BSM Motors and a resident of Shivarama Karanth Extension and Antony D’Cunha (39), manager at Diwan Housing Finance and a resident of Basaveshwara Extension in Kushalnagar, are the arrested. Four other accused from Kodagu are absconding.</p>.<p class="bodytext">Addressing reporters in Madikeri on Tuesday, Superintendent of Police Dr Suman D Pennekar said that the network was active in the state and transactions worth Rs 15 crore to Rs 20 crore were made. The accused had developed a website capitalrelations.in through a Bengaluru-based company by investing Rs 1.50 lakh and around 3,500 people had invested money.</p>.<p class="bodytext">Shashikanth, the accused, was the administrator and those who wanted to make an investment had to contact him and obtain user ID, password and three e-pins. An amount of Rs 1,000 was fixed for a single e-pin.</p>.<p class="bodytext">The amount would go to the accounts of the accused. A separate user login was provided for the invested. The money was transferred using Google Pay, Phone Pay and Net Banking.</p>.<p class="bodytext">The investors were told that after seven days, the amount will get doubled and will be credited to the investors. A few people had received the money but a lot of investors were cheated, the SP said and added that the transaction was totally illegal.</p>