Mudalagi police have arrested eight persons, including a police constable alleged to be

Kochi : CBI has begun an investigation into an alleged Rs 65-crore investment scam involving

Belagavi : Mudalagi police have arrested eight persons, including a police constable alleged to be the kingpin, in connection with a Rs 2.6-crore fraud and robbery case. The accused allegedly lured victims by promising to transfer Rs 1.3 lakh to their bank accounts in return for Rs 1 lakh in cash. Police have recovered Rs 2.3 crore in cash and seized vehicles used in the crime.

Kurbet convinced people that an investment of Rs 1 lakh in cash would fetch Rs 1.3 lakh through bank transfers, according to police. Believing the offer, Kalmesh Rangapur collected Rs 48 lakh, his brother-in-law Channabasappa Rs 40 lakh, Birappa Vanasanni Rs 50 lakh and Shankar Jakkannavar Rs 80 lakh, taking the total amount to Rs 2.6 crore. An investigation led by Gokak sub-division DSP Ravi Nayak revealed that the accused had conspired to rob people after enticing them with promises of multiplying their money. Police have launched a hunt for the remaining accused, Ramappa Talwar.

Police said the accused later hatched a plan to rob the money. Those arrested have been identified as police constable Chidanand Kurbet; Rajaram Malyagol, Ramesh Malyagol and Vitthal Malyagol of Sanganakeri village; Sanjeev Arabhavi and Maruti Arabhavi of Tukkanatti village; and Prakash Melavanki and Raghavendra Koppad of Gokak. Police have seized two motorcycles, a car and a money-counting machine from the accused.

Addressing reporters on Thursday, superintendent of police K Ramarajan said the arrests followed a complaint filed by Kalmesh Rangapur of Mudalagi.

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