Mallya Wannabe? Banker Turns Scamster To Score Rs 100 Crore, Spend It On Women And Cars!








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Vijayasarathi Jonalagadda had dreams: sleep with some of the world’s most beautiful women, drive the swankiest cars, and basically live the high life.




100 crore dreams

The 41-year-old, former ICICI bank employee, along with two others, is alleged to have embezzled over Rs 100 Cr over three years from the bank to sustain his lifestyle. Police claim that Vijayasarathi spent Rs 10cr on East European and Arab escorts from Mumbai, Pune and Delhi; paying them up to Rs 5 lakh a night and then leaving them a Rs 1 lakh tip for their efforts: All this courtesy ICICI account holders.
The Vijayapura police have booked a case of cheating against two ICICI bank officials and one other person, based on a complaint lodged by the one of the bank’s regional managers. The case was later handed over to the Karnataka CID. The three accused are also wanted in connection with three other criminal cases registered in Vijayapura.
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Their modus operandi: cancelled cheques


The accused robbed account holders by encashing cancelled cheques. They cheated the Bijapur District Co-operative Bank to the tune of Rs 30 crore, the Siddeshwara co-op bank of Rs 1.65 crore, NHAI of Rs 13.45 crore, Kirana Merchants Association of Rs 2.25 crore, Vijayapura City Corporation of Rs 19.25 crores, Water Supply Board Vijayapura of Rs 4 crore and SBI of Rs 7.60 crore,” a CID official said.
Vijayasarathi also purchased a house in Vijayapura, six acres of agricultural land in Dakshina Kannada, and a house worth Rs 2 crore in JP Nagar in his and his girlfriend’s name; in addition to buying two acres of agricultural land in his girlfriend’s brother’s name.

Busted at the Nepal border

CID officials arrested Vijayasarathi at the Indo-Nepal border, but nothing prepared them for the scale of the scam. “The whole scam amounts to Rs 100 crore, which the accused and his syndicate embezzled from 2012. They took out money from current accounts using cheques. Vijayasarathi is a native of Mayanmar, but has now settled in Ballari and liked high-profile escorts a lot. He always wanted to lead a posh life and the crores he got in the scam gave him a way to do so,” a CID source said.
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“His statements clearly say that he spent almost Rs 10 crore on escorts. When the money started coming in, he left his wife and got a girlfriend, Renuka Shetty, and started enjoying the life he wanted. In the latter part of 2012, he started contacting pimps in Mumbai, Pune, Delhi, Bengaluru and Hyderabad. He started attending their parties and started hiring the girls. He fancied women from Ukraine, Russia, Brazil, and Arab countries. He used to book suites in seven-star hotels or resorts. He even paid Rs 10 lakh per day on a few occasions,” a senior police officer handling the case said.
“Another fancy of his was high-end cars. He had 23 high-end cars like Audi, Merc, BMW, Porsche, Jaguar, Range Rover and many more. This married man has a wife and a daughter, but left them for Renuka who was his colleague. He has been on the run from August 2015 and was arrested by the CID in February 2016. The CID has recovered 13 cars as of now and almost Rs 40 crore, including properties, and LIC policies worth Rs 13 crore,” the officer added.
Although the CID is attempting to recover as much of the embezzled money as possible, they fear the Rs10 crore spent on the escorts is out of their reach. “This will be shown as unrecovered now. Totally four people have been arrested in this case, Renuka is out on bail while the others are still cooling their heels in central jail,” the official said.
Source: indiatimes | 1





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