Hyderabad: Four persons were arrested from Nallakunta area on Wednesday for allegedly cheating two medical practitioners and as many MBBS aspirants.

The accused allegedly duped doctors by making them to invest Rs 1 crore in a private hospital they are planning to purchase by promising 70 percent share and profits, and also collected Rs 90 lakh from the two students by promising to get them MBBS seats in a medical college here.

The accused also tried to raise bank loans in the names of the doctors with a view to misappropriate the same and shift the liabilities to doctors, stated a release issued by Central Crime Station (CCS).

The accused are identified as K V G Krishna Phani Kumar, P Sai Babu, T Ashok Kumar and K Satish Kumar. According to police, the accused approached both the doctors and told them that they are planning to purchase a private hospital and offered them to invest money in the venture by promising huge returns. Believing their version, both the doctors invested Rs 1 crore.

The accused also induced the doctors to obtain bank loans in their names with fraudulent means and got opened the bank accounts in different banks. They forcibly obtained their cheque books, promissory notes, and prepared fake and fabricated agreement of sale, and non-judicial stamp papers and also collected original educational certificates of both doctors, in the guise of running hospitals in their names, the release stated.

Police said Phani Kumar, in a bid to convince the doctors, allegedly invested their money in three hospitals in different parts of the city without investing his own money. Apart from this, the accused also induced the doctors to contact parents who want their wards admitted for MBBS course in medical colleges.

In this way, two parents through both the doctors approached the accused, who claimed before them that they have tie-ups with management and that they would get seats under judiciary quota and collected around Rs 90 lakh (collectively from students) according to the release.

Source: PTI