Bengaluru, Sept. 19 -- The Hoskote police has arrested five people for allegedly cheating members of the public by offering properties claimed to be worth Rs 1 crore for an investment of Rs 10 lakh. Police suspect that the accused had been running the operation by exploiting the trust of locals and investors.

The arrested persons are Shashikumar, a resident of Yelachenahalli, and the alleged main accused, Nagesh, Pramila, Ambuja and Venkataravanappa.

Police said Shashikumar had established contacts with several people in Hoskote and neighbouring areas and allegedly used his reputation among them to attract investors. He reportedly approached real estate operators and financially sound individuals, promising them an opportunity to purcha...