Five men, who allegedly threatened the owners of an IT firm and extorted money, were arrested by the Cyberabad Police on Tuesday.
The accused have been identified as M Vamsi Krishna Rao, Vamshidhar, Rahul, Rana Pratap and Praveen Kumar.
In the month of May, a few youngsters joined Growic Technologies in Khajaguda after paying Rs 1.5 lakh for the job.
Within a week of payment, they learnt that the company had allegedly cheated them, and their appointments were fake, after which they demanded a return of their money, Deccan Chronicle reported.
Two of the swindled employees approached Vamshi Krishna, who reportedly used to move around in a car with a blue beacon and a VIP sticker, claiming that he was a relative of Telangana IT minister KT Rama Rao.
The police said that Vamshi then hatched a plan to extort the money from the IT company, and asked the firm‚Äôs project officer, Vamshidar, to join him in the company‚Äôs ‚Äėtakeover‚Äô.
The Times Of India quoted an investigating officer saying, "He along with his associates, demanded Rs 10 lakh from the directors. They also asked the directors to shut down the company.‚ÄĚ
‚ÄúThreatening the company directors with a toy pistol, he extorted Rs 5 lakh from them,‚ÄĚ Madhapur DCP Vishwa Prasad told The Hindu.
The TOI report adds that the police have registered a case under section 420 for cheating, 406 (Punishment for criminal breach of trust), 419 (Punishment for cheating by impersonation), 384 (Punishment for extortion), 386 (Extortion by putting a person in fear of death or grievous hurt) and 506 (Punishment for criminal intimidation) of the IPC against them.