Main accused in multi-crore fraud Held

HYDERABAD: The managing director of a private marketing company, who has been at large since more than a year after cheating several innocent customers, was on Monday nabbed by CCS sleuths.Chavan Eshwar is the MD of Sri Sri Marketing Pvt Ltd and SS Marketing Ltd.Eshwar and his three brothers - C Srinivas, Satyanarayana, Rajeshwar - started a multilevel marketing business under the name of Sri Sri Marketing Pvt Ltd in 2007. Later in 2009, they changed the business to accepting deposits in the name of SS Marketing. The four used to collect huge amounts as deposits from customers promising them double the amount in return after only 60 days. “They collected deposits worth Rs 12 cr and even issued post-dated cheques worth Rs 21 crore , ” CCS DCP J Sathyanarayana said.With an intention to cheat their customers, the four closed down their office and had been at large since April 1, 2010. A case was initially registered by the Saifabad police but later, it was transferred to the CCS. A couple of days back, Srinivas, Satyanarayana and Rajeshwar had been arrested and property worth several crores had been recovered from them.CCS arrested Eshwar on Monday and seized documents from him.