KOLAR, 26 APRIL

Kolar police have arrested Nagendra Prasad, son of former CMC President Raghuram, on charges of defrauding the public by soliciting large sums of money under the false promise of doubling their investments. A resident of Muneswaranagar, Prasad allegedly portrayed himself as a man of God who could double funds within days.

Many individuals in Kolar and the surrounding areas, enticed by his assurances of affordable land and residential properties, entrusted him with significant amounts of money. Among the victims is local resident Venkatachalapathy, who reportedly gave Prasad Rs 50 lakh to purchase land. Following the transaction, Prasad squandered the funds on lavish expenditures, including betting and gambling.

When Venkatachalapathy sought clarification, Prasad claimed to have stored the money in a trunk equipped with sensors, warning him not to open it lest authorities be alerted. Growing suspicious, Venkatachalapathy lodged a complaint with the CEN Police, which led to Prasad's arrest. Upon opening the trunk, officers found only old books and papers, with no cash inside.

Authorities suspect that Prasad may have deceived numerous others in Kolar and beyond, and investigations are ongoing.