Bengaluru police are actively pursuing Syed Riyan and Rizwana, a couple accused of duping at least nine individuals of over Rs 1 crore through promises of lucrative returns on investments in their travel agency business.
According to a Deccan Herald report, the alleged fraudster couple owned a travel agency on Mysuru Road and enticed victims with postpaid tour packages.
The couple, after approaching victims through their social circles, invited them to invest in their business, assuring substantial profits.
Once the investment was secured, the duo mysteriously disappeared, leaving the victims in the lurch.
The RMC Yard police registered an FIR under IPC section 420 (cheating and dishonestly inducing delivery of property) after a Goraguntepalya resident reported losses of Rs 23.9 lakh over four months.
Preliminary investigations uncovered a pattern of deceit where the couple, using their travel agency as a front, allegedly defrauded a total of nine people.
The victims were lured with explanations of the business model, which involved facilitating postpaid intercity and interstate tour packages. The couple claimed a large customer base for these tours, creating an illusion of a thriving enterprise.
As the investigation unfolds, the police have identified eight more victims from various locations in the city. While the couple has been traced to a neighbouring state, they are yet to be apprehended.