Two persons, who allegedly duped owners of 29 cars and Sports Utility Vehicles (SUV) by promising them a handsome monthly income by leasing their vehicles and later tried to sell them to make a quick buck, were arrested by the Anantapur police on Sunday.
Highly-qualified
The two highly-qualified persons, who took the vehicles on the pretext of leasing them for engineers working in a construction company, owned by one of the accused, Podralla Jayachandra Reddy, paid the lease amount to owners on time for a couple of months, but defaulted later.
Superintendent of Police B. Satya Yesubabu said at a press conference here that Jayachandra Reddy, an MBA graduate, was engaged in civil construction activity in Dharmavaram town in the district and he joined hands with a B.Tech graduate Darsi Dinesh, suspended from a bank for some misappropriation of funds.
No agreement
According to the SP, the two created a network of known persons from February this year and took their cars on lease without any document or agreement. They mortgaged the cars to some individuals and spent a lavish life with the amount. The modus operandi was to pay the lease money to the original car owners for two to three months and turn incommunicado later.
Based on complaints filed by some of the owners with III Town Police in Anantapur, the accused were held and 29 cars recovered from them. The owners of the 29 cars were asked to contact the police personnel so that they could take possession of their vehicles through a court procedure. The two accused would be produced in court, the SP added.