Arrested for duping parents

02-1425289993-keshav-reddy-600Police have arrested the chairman of the Keshava Reddy Educational Institutions, Keshava Reddy and cases were booked against him under several Sections for defrauding parents of 11,000 students while collecting deposits promising high interest. Documents were seized from his establishments. Enquiries revealed that Reddy along with 800 others collected Rs 470 crore as deposits. Besides, he also took Rs 62 crore loans from several banks. Reddy was dodging to pay the principal and interest and the victims had complained to the police. He was caught at Kurnool toll gate.

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