This Luxury Car Owner Cheated Rs 300 Crore In Three Cities; Arrested In Delhi

Harshvardhan Reddy has been involved in cases in Chennai Mumbai and Delhi and was absconding from the Police. On March 22, 2017, the cops received information about Reddy and arrested him in Delhi.

DCP South, Ishwar Singh said, "He disclosed that he approached people who had properties in expensive location, offering them a high rental for those properties. He convinced them that if the property is given to him on lease, then he can pay a much higher rent for it than the existing tenant."

He added, "Once the person was convinced, and a lease deed for the same was executed, he used to pay an advance rental through post-dated cheques, which, however, were dishonoured later."

Singh further stated that, once the lease deed was executed, he forged the deed of the same property and showed it to be of higher price. Based on this he took loans from banks and went underground.

Apart from that Reddy had illegally obtained three PAN cards, on different names with different date of births and two passports. According to Police he kept shifting his residence and was involved in fraud activities.

Singh further said, "From the money he earned, he purchased a fleet of ultra luxury cars like the Ferrari California, which costs Rs4.5 crore, Audis and a Maserati Quattroporte worth Rs3 crore."

The cars were seized by SBI and some other lender banks. But Reddy masterfully concealed the Maserati and was using the car until his arrest. Now the car has been recovered, and the concerned agencies have been informed about the arrest.

Via Hindustan Times