The people who would fall for the bait would then be asked to attend seminars or go to hotels to collect prizes. They would then be convinced to take memberships and make payments.
Apart from club and holiday memberships, the firm would offer potential victims plots of land, health club memberships and passes to resorts, according to news agency PTI.
Acting on a tip-off, Hyderabad police's Commissioner's Task Force raided the firm's office in the city's Khairatabad area and arrested the 'managing directors', Shaik Khadar Basha and Panaganti Vijay Kumar, according to an ANI report.
"Around 30 people were appointed marketing executives and were assigned the task of collecting contact details of people who visit various shopping malls and multiplexes," said Deputy Commissioner of Police (DCP), Commissioner's Task Force, Radhakishan Rao, adding that further investigation in the case was underway.
Police are also probing how the 'Managing Directors' obtained different documents from the people who were cheated.
(With Inputs From PTI And ANI)
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