Man arrested for allegedly cheating company of ₹2.6 crore on promise of procuring foreign-made car
A Karnataka-based man named Anup Sumith Fernandes was arrested for allegedly defrauding a private company of ₹2.6 crore. The suspect promised to procure a luxury foreign car but failed to deliver the vehicle or return the funds.
Why it matters
This case serves as a warning regarding high-value commercial transactions and the importance of due diligence in luxury vehicle procurement.
The Teynampet police have arrested a Karnataka-based man for allegedly cheating a private company of ₹2.6 crore on the promise of procuring a foreign-made car.
Police said Ramkumar, 45, a director of a private company in Alwarpet, approached Anup Sumith Fernandes in 2024 after the company decided to purchase the luxury vehicle for official use. Fernandes allegedly assured the company that he would procure the car through a private firm in Hyderabad and deliver it within 40 days after receiving the full payment.
Based on the assurance, the company transferred ₹2.6 crore in two instalments to the bank account of the private firm. However, Fernandes neither procured the vehicle nor returned the money despite repeated demands.
Based on Ramkumar’s complaint, the Teynampet police registered a case and launched an investigation. Police subsequently learnt that Fernandes had left the country and issued a Look Out Circular against him.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in