Fake job racket in Hyderabad

Hyderabad, July 13: Nowadays fake companies have been raising excessively.Similar kind of incident has unveiled in the city.

The Madhapur police have arrested three persons here on Wednesday for cheating youth by promising them jobs. The suspects were identified as C Veera Reddy alias Srinivas Reddy, T Venkatesh and Mandeep Reddy, all in their mid-30s.

They hatched a plan to cheat job aspirants by establishing fake companies.

"They came to an agreement with some consultancies and offered jobs to BTech graduates after collecting Rs 1 lakh to Rs 1.5 lakh each.They closed down the company three months later saying that it was running in losses", said Kalinga Rao, Inspector, Madhapur.

The accused have collected the money from job aspirants nearly Rs.1.5 Crores. Police seized 27 desktop computers and 12 laptops. The suspects were remanded in judicial custody.