Mysore/Mysuru: A couple from Telangana, who lured a couple from city into real estate business by promising them high profits, has allegedly cheated the couple to the tune of Rs. 1.25 crore.  

The city couple, who was cheated is 52-year-old Srinivas Hosamane and his wife 44-year-old Nagarathna Hosamane, residents of Bogadi in city while the accused couple are 58-year-old Sunil Ghanate and his wife 50-year-old Ganga Ghanate of Secunderabad in Telangana.

Details: When Srinivas was working at Tek Systems Global Services in Hyderabad as a manager, he came to know Ghanate couple, who used to frequently visit their house in Mysuru. During the course of a visit, Sunil and Ganga convinced Srinivas couple to invest in their construction business with a promise of  earning high returns.

From Aug. 9, 2017 till Aug. 30, 2019, Sunil and Ganga had obtained a total of Rs. 1.25 crore from Srinivas and Nagarathna couple, but failed to pay back their money, thus cheating them.

Saraswathipuram Police, who have registered a case, are investigating.