Three arrested in fraud case, bank accounts frozen

The Satyanarayanapuram police arrested the owner of animation company — Upix Creations — and two other persons, who duped the customers promising attractive returns.

The arrested include, N. Venkata Satya Lakshmi Kiran of Vijayawada, M. Rajendra Kumar and M. Rajiv Krishna of Guntur, who were reported to be responsible for the fraud.

The accused established Upix Creations, an animation company, at Satyanarayanapuram area and collected about ₹350 crore from 183 depositors and duped them.

Following a complaint, the police team led by Deputy Commissioner of Police K. Tirumaleswara Reddy and Assistant Commissioner of Police Sravanthi Roy arrested the accused, the police said on Saturday.

Police seized 354 grams in gold ornaments worth ₹90 lakh, 21 kgs of silver ornaments, a car and other material. The officials have asked the banks to freeze accounts of the accused, the police said.