Mangalore :  The Kadri police have another nabbed Praveen Shetty who was one of the partner of Global Index Investment Company, located in Mahendra Arcade at Karangalpady on July 11, Monday said Police Commissioner Seemanth Kumar Singh.

Speaking at the press meet held at his office on July 12, Tuesday, he said

The Global Index Investment Company which started its office at Poonja international at K S Rao Road, later one week shifted to Hindustan Hotel at KS Rao Road and later in the year 2010 November again shifted to Mahendra Arcade at Karangalpady.

The company has fooled around 2,000 people who had invested their money with them in the hopes of getting their investment doubled. When the matter came to light on March 4, Friday, the investors were shocked.

Reportedly, the company, which was previously known as Index Daily, has been in existence for one year, but had stopped paying promised amounts two months back.

Previously, the police have nabbed Shekar Bhat alias Purushottam Bhat (43) of Shishila, Belthangady and Ashok Kumar (44) of Kottara, BC Road, T Koragappa Poojary from Puttur and Vasanth K D were arrested and police had seized the car, mobile sets, place documents and amount of Rs 35 lakhs, But Praveen Shetty (24) son of Sadashiv Shetty of Perdoor of Udupi district was absconding and finally he was arrested on July 11, he said.

The investors have invested the amount of Rs 11 to 12 crore in the company. The police have seized two laptops, cash amount of Rs 27 lakhs from Praveen Shetty. They have also seized the amount from Rs 1,95,498 from the Axis Bank savings of him. The properties worth Rs 29, 45, 498 have been seized from him altogether, he said.

Station house officer of Suratkal police station, K U Belliappa, DCP M Muthuraya, DCP Dharmaiah were present at the press meet.