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Hyd: One arrested for cheating public of Rs 2 crores

Hyderabad, June 28 (UNI) The EOW Police of Cyberabad have arrested an accused involved in a criminal breach of trust and cheating, in violation of the Telangana Protection of Depositors of Establishments Act, committed by M/s. XITO Consultancy Services Private Limited (XCSPL).
The company, represented by its directors B N Satish, Avalakondappa Venkata Chalapati, and its employees, collected deposits from the public with the promise of high returns within a short period but defaulted on repayment.
Based on a complaint, The EOW Police of Cyberabad arrested Gadiraju Guruprasad Raju (32), Financial Advisor to M/s. XCSPL Company, Resident of KPHB, Hyderabad, Native of Rajampet, Kadapa District, Andhra Pradesh on June 26, in Noida, Uttar Pradesh, and the accused was brought on a transit warrant, a police statement said on Friday.
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