Main accused of multi-crore Global Index fraud nabbed

[email protected] (CD Network, Photos by Savitha B.R)
July 12, 2011

Mangalore, July 12: Mangalore city police arrested the prime accused in a multi-crore fraud case on Monday night and recovered cash and other valuables worth Rs 65 lakh from his procession.

Police on reliable information, nabbed the accused Praveen Shetty (24), near Hotel Grand Meridian, Sheshadripuram, in Bangalore and brought to the city.

Praveen Shetty son of Sadashiva Shetty, a resident of Perdoor in Udupi district, was absconding in Chandighar, Dargiling and Vishakpatna.

City Police Commissioner Seemanth Kumar Singh addressing the media persons here on Tuesday said, with the arrest of Praveen, the total number of arrested in this case increased to five. Four persons Vasantha KD of Sullia, Shekhar Bhat of Belthangady, Ashok Kumar of BC Road and T Koragappa Poojary of Puttur were already arrested.

The fraud had come to light on March 4, when two people, who had invested a huge amount of money with one Global Index Investment Company (GIIC) operating in Mahendra Arcade Complex, Karangalpady here, lodged separate complaints against it at Kadri Police station after realising that they were utterly deceived by the company.

It is said that the company has duped Rs 11 to 12 crore to nearly 2500 people in Mangalore city alone.

Warning

Mr Singh asked the public to be alert when such companies advertise offering highest interest rate for investment. Companies such as Global Index, Nano Forex, Uni Pay to You, SPM Infotech, La-Green Ma, Guru Teak Investment Pvt Ltd duped the public several crores of rupees in Mangalore alone.

He said any such companies cannot offer highest interest rate more than what Reserve Bank of India has fixed. 11 cases in Mangalore East police station, six cases each in Urwa and Surathkal police stations, four in Ullal, one case each in Mangalore North, Mangalore South and Urwa Police Stations have been registered. 11 accused have been arrested in all the cases.

He also requested the public to inform police department if such companies or any firm comes up luring huge profit.

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coastaldigest.com news network
July 16,2020

Bengaluru, Jul 16: Chief Minister B S Yediyurappa led state government’s move to amend the Karnataka Land Reforms Act was “a scam bigger than illegal mining” as farm lands worth Rs 50,000 crore will be lost, according to Leader of the Opposition Siddaramaiah.

The government on July 13 promulgated an ordinance to amend the Karnataka Land Reforms Act, allowing non-agriculturists to buy agricultural lands while also increasing the cap on the extent of such land a person or a family can hold.

Plus, the amendment will have retrospective effect, meaning over 13,000 cases registered over the years for alleged violations in acquiring farm lands will be vacated or dismissed.

“There are 13,814 cases across all 30 districts. Let’s assume that each case involves four acres of land. That’s 52,000 acres. These are lands worth Rs 45,000-50,000 crore,” Siddaramaiah told a news conference. “This is a scam bigger than illegal mining. While the mining scam had specific players, here the entire government has fallen for the corporate bodies and real estate lobby.”

The illegal mining scam unearthed when the BJP was in power was pegged at Rs 35,000 crore, which became a poll plank for the Congress to come to power in 2013.

Calling it a “black” legislation, Siddaramaiah said the amendments to the land reforms law will result in large portions of farm lands becoming real estate. “This will destroy the farming community. They’ll now have to stand at the doors of corporate bodies. Farmers will sell their land and real estate will come. What’ll happen to food production?” he said.

The ordinance amends Section 63 and 80 of the Act, while omitting Sections 79A, B and C. “These sections were inserted in 1974 under the D Devaraj Urs government. It was a revolutionary, progressive step to protect farmers and ensure social justice,” Siddaramaiah said.

The Congress leader claimed that there was a “biggest conspiracy” behind this. “All this is being driven by the Modi government. They want to privatize more and more so that reservations will go. They want to bring back the zamindari system,” he said, citing the examples of some other recent amendments to other laws.

The timing of the ordinance is suspect, he said. “If the Yediyurappa government really wanted to help farmers and had good intentions, they could’ve brought this before the Assembly or placed it for public discussion. Instead, they’ve made use of the lockdown period to promulgate the ordinance,” he said.

The Congress will fight the ordinance till it gets withdrawn, Siddaramaiah said. “We will talk to other parties, farmers organisations and Dalit groups to plan protests against the BJP’s hidden agenda and anti-farmer policies,” he added.

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News Network
January 27,2020

Mangaluru, Jan 27: JD(S) leader and former Labour Minister K Amarnath Shetty passed away at a private hospital in Mangaluru on Monday morning. He was 80. Shetty was unwell for sometime, and was admitted to the hospital a few days ago, family sources said.

Amarnath Shetty, a trustee of Alva's Education Foundation (AEF), had joined politics in 1965.

He became the president of Paladka Gram Panchayat and soon was elected as MLA from Moodbdri constituency in 1983. He won the successive elections held in the same constituency in 1987 and 1994. He had served as Tourism and later as Labour Minister.

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News Network
April 9,2020

Bengaluru, Apr 9: In order to stop fake forwards about coronavirus shared by some netizens which is creating hate and fake news, the Karnataka state police have launched a new section (landing page) of fact checks in the Karnataka State Police official website.

which is falsely framing a particular community by sharing photos and videos on social media by some netizens which is creating hate -- the Karnataka state police have launched a new section (landing page) of fact checks in the Karnataka State Police official website.

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