A gang of fraudsters, who allegedly conned many graduates of crores of rupees on the pretext of providing them post graduate seats in prominent medical and engineering colleges in Karnataka, has been busted, police said on Wednesday.
The arrested duo, Rajath Shetty, an engineering graduate and Jaiprakash Singh, a management degree holder, both aged 31, had set up offices in the city under the names of six fictitious firms. Two of their accomplices are absconding.
The accused convinced medical and engineering graduates that they could offer them seats in prominent colleges and collected huge amount of money from them to the tune of crores of rupees, police said. They were arrested last night based on complaints filed by three graduates.
Police said Shetty had earlier worked in a prominent IT company and had cheated many persons in a similar manner by promising them seats at Manipal medical college in Udupi district. Both of them have a number of cases of fraud registered against them, police said.