The chairman and managing director of Dolphin Solutions, an IT company situated at Nandagiri Hills, was arrested by the Jubilee Hills police here on Friday after a case of cheating was filed against the firm. The police arrested Gali Vinay Naidu for allegedly cheating 400 employees to the tune of Rs 4 crore and closing down the company.
Vinay is from Chittoor and had set up the company a year ago by renting a building at Nandagiri Hills after taking huge loans. He allegedly used to take Rs 1 lakh to Rs 3 lakh from each of the 400 employees to appoint them. He allegedly gained their confidence by paying them salaries for the first three months and promising them of better prospects and foreign tours.
However, Vinay allegedly failed to pay back the loans, rents of the building, payments for various services and even stopped paying salaries to the employees. A few months ago, he closed down the firm and absconded. Several employees of the company lodged a complaint with the Jubilee Hills Police Station who in turn nabbed the accused on Friday. He will be produced before the court on Saturday, the Jubilee Hills police inspector, Mr B. Limba Reddy, said.
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