The cops of Cubbon Park police station in Bengaluru have filed a case against a 45-year-old real estate developer of port city, Vijay Kumar Manyam, his wife, and cousin for cheating and criminal breach of trust. The trio allegedly duped a Non-Banking Financial Company (NBFC) from where he had taken a loan in 2018.
Cops registered an FIR against Vijay Kumar, his wife Mogili Kanaka Subhashini and cousin Anala Swati and others on Feb 16 and launched a manhunt for them. The three are directors of Manyam Estates Private Limited and Navya Infracon Projects India Private Limited, based in port city.
According to Vizag city police sources, two cases were registered in MVP Colony police station in Vizag in December by Bank of Baroda for cheating the bank of crores of rupees.
In the Bengaluru case, the accused was sanctioned 16 crore by an NBFC for a project ‘Manyam Sky Park’ in Jakkuru, Bengaluru. The account turned NPA and during the investigation, the NBFC found that they siphoned off the money and laundered it for personal gains.