Task Force sleuths from the North Zone of the city on Thursday arrested film producer Nandi Srihari, on charges of cheating people.
According to sources in the Task Force, Nandi Srihari was arrested for his alleged involvement in a scam called 'Gurudev Multi-Level Marketing', which left about Rs. 90 crore of public money being siphoned off in a pyramid marketing scheme.
The sources say that the film producer collected money from gullible investors, assuring them of high returns on their investments. The case came to light after some investors demanded the repayment of the money.
Nandi Srihari had earlier produced the film
Nagaram Nidrapothunna Vela, which stars Jagapathi Babu and Charmme.
The producer was arrested after the Task Force police registered a case against him.
The police also recently arrested the second female lead in the same film, for her alleged involvement in a prostitution racked. This racket was being run from a posh locality in the city.
Earlier, the police arrested the producer of
Puli and
Khaleja, Singanamala Ramesh, for his involvement in various scams and extortion. (INN)