Conman poses as VIP, takes over Hyderabad IT firm at gunpoint

The men allegedly got hold of the company’s accounts by confining the two directors in the office, and forced them to send e-mails to their employees, stating that they have resigned.

A 27-year-old man allegedly posed as a VIP and took over a software company in Hyderabad after threatening the firm’s two directors, police said.

Two men have been arrested for taking over a company at gunpoint in Hyderabad. (Shutterstock)

Police in Cyberabad arrested two persons -- prime accused Vamshi Rao, and the IT company’s project manager, Vamshidhar.

Two job seekers recently approached Rao and told him that they paid Rs 1.5 lakh to the company for jobs. However, when they were unable to get the jobs despite paying the money, they decided to seek a refund and to pursue it with the company, they approached Rao, the Cyberabad police said.

Rao, in a bid to make some easy money, then approached the company’s office by impersonating as a VIP, police said.

Last week, he visited the firm’s premises in a vehicle with a blue beacon and then held discussions with the two directors.

He then allegedly threatened the directors with a gun and demanded Rs 10 lakh to settle the issue. The directors paid him Rs 5 lakh, police said.

Later, Vamshidhar and two of his friends colluded with Rao. They allegedly took over the company and got hold of its accounts by confining the two directors in the office.

The accused then forced the two officials to send e-mails to their employees, stating that they have resigned from their jobs and that Rao and Vamshidhar are the new directors.

Following a complaint, police lodged a case and arrested Rao and Vamshidhar on Tuesday. Their other two accomplices are absconding.

The accused were booked under IPC sections 420 (cheating), 342 (wrongful confinement) and relevant sections of the Arms Act, police said, adding that an investigation was on.