Job racketeer swindles candidates of Rs 2 cr

HYDERABAD: The Crime Branch Central Crime Station police on Wednesday registered a case against a man who allegedly collected about Rs 2 crore from about 60 persons, promising them data transcription contracts from IT firms abroad.
According to police sources, Sridhar Naidu, resident of Vengal Rao Nagar, was the owner of Excalibur Communications. Sridhar collected about Rs 2 crore from about 60 candidates in the last six months.
In order to deepen their trust in him, Sridhar often paid some candidates who completed their project a part of their fee.
This went on for six months till Sridhar became unable to circulate the money any more. When despite making repeated demands for their money, the candidates did not get paid, they approached the CCS.
A complaint of cheating was filed against Sridhar Naidu by one V S Kumar on Tuesday.