The Jayanagar police announced the arrest of a conman who had alleged cheated insurance agents as well as the public.
J.P. Nagar resident Krishna C. alias Bombay Krishna (40) was arrested on the complaint LIC agent Guruprasad who said Krishna had cheated him of Rs.2.1 lakh.
Krishna opened accounts in various banks and with their chequebooks, posed as the owner of a finance company. He then lured gullible people in and around Bangalore, Mandya and Tumkur promising them personal loans and got blank cheques from them on the pretext of surety.
Thereafter, he earned a few LIC agents’ confidence by purchasing LIC policies. He then used the cheque leaves collected from people, write an amount and tell the LIC agents he was in dire need of money. When they encashed the cheques, he would disappear.