VIJAYAWADA: The NTR district police on Monday arrested five members in the investment fraud case of Sankalp Siddi E-Cart India private limited scam who allegedly collected to the tune of `200 crore from the public. Addressing the media, the NTR district police Commissioner Kanthi Rana Tata said that various cases were registered under them that includes Sections 420,120(B) IPC, Sections 4 and 5 of Prize Chits and money circulation schemes (banning) Act 1978, Sections 4 and 5 of Andhra Pradesh Protection of depositors of financial establishment Act 1999 and Section 66 of Information Technology (IT) Act has been filed against Gutta Venu Gopal (52), Gutta Kishore (37), Ganjala Lakshmi (36), Syed Jakeer Hussain (52) and Mavuri Venkata Naga Lakshmi (26). He also said that the investigation is on to find the role of others whose involvement is present in this scam.
Explaining the case details, Rana said the accused Venu Gopal hails from Karnataka and studied up to fifth standard. During his initial days, Venu Gopal worked as a farm labourer and watchman in a private company.
He later shifted his base to Vijayawada and did odd jobs for a living. “Gopal was once an agent in a similar Multi Level Marketing (MLM) company called Quantum. It too got closed and the organisers were arrested. In order to gain experience on these MLMs, he later joined and worked with N-Mart and Future Multi Level marketing which ended in the same…
