Fraud of One Crore Rupees: Komati Thirumalesh Shetty Absconds Overnight – Victims Cry for Justice

Gadwal: In a shocking financial fraud that has sent waves of distress through Aiza Municipality of Jogulamba Gadwal district, Komati Thirumaleshu Shetty—also known as Tippayya Shetty or Pallaiah—has allegedly absconded overnight after cheating dozens of unsuspecting residents out of nearly ₹1 crore. The victims, many of whom are women, middle-class families, daily wage earners, and even a physically disabled man, are now left in deep financial and emotional turmoil.

Trusted Trader Turns Alleged Fraudster

Locally known for operating a modest soft drink shop and a home-based clothing business, Thirumaleshu Shetty had earned the trust of many, especially women who frequented his residence to purchase garments. Over time, he allegedly leveraged these personal relationships to borrow substantial sums of money, repeatedly assuring timely repayments.

However, on a recent night, Shetty vanished without a trace—his shop locked, his house deserted, and his phone permanently switched off. The sudden disappearance stunned the entire neighborhood. In a rare display of desperation and anger, some victims even tried to seize the refrigerator from his abandoned soft drink shop, hoping to reclaim at least part of their losses.

Victims Speak Out

A particularly heartbreaking case involves a physically disabled man who had painstakingly saved one lakh rupees over several years. "He [Thirumaleshu Shetty] came to us like a friend, but he left us in ruins," he said, struggling to hold back tears.

Many women from Aiza’s middle-income communities echoed similar sentiments, having trusted Shetty with their hard-earned savings—some even parting with their gold and jewelry.

Delay in Legal Proceedings Due to Court Holidays

Despite the enormity of the alleged scam, no FIR (First Information Report) has been registered yet.

"If the court holidays weren’t in place, the IP (insolvency petition) would have started, and notices would’ve been sent by now," one aggrieved woman lamented.

Local activists are now urging the Jogulamba Gadwal district police to take immediate action regardless of the court holiday status, as police are empowered to register criminal complaints independently...

Legal Implications and IPC Sections Applicable

Legal experts note that if Thirumalesh Shetty is found guilty, he could be charged under multiple sections of the Indian Penal Code, including:

Section 420 – Cheating and dishonestly inducing delivery of property (punishable with up to 7 years in prison and fine)

Section 406 – Criminal breach of trust (up to 3 years imprisonment or fine)

Section 417 – Cheating (up to 1 year imprisonment)

Section 120B – Criminal conspiracy (if he had accomplices)

Section 506 – Criminal intimidation (if threats were used to silence victims)

Additional charges under Sections 468 and 471 could apply if forged documents were used.

Victims' Path to Justice

Legal advisors and citizen rights groups have outlined several steps that the victims can take:

1. Immediate Police Complaint: Victims should press for an FIR as a group to strengthen their case.

2. Civil or Consumer Court Action: Civil recovery suits can help reclaim the loaned money. If Shetty posed as a service provider, consumer forums may also admit the case.

3. Apply for Compensation: Under Section 357A CrPC, victims can seek relief through the Victim Compensation Scheme via the District Legal Services Authority (DLSA).

4. Asset Seizure: Once an FIR is filed and charges framed, Shetty’s property—including the cold drink shop and his home—may be legally seized.

5. Media & Community Pressure: Local press coverage and public protests may expedite the legal process and draw attention from higher authorities.

What Authorities Must Do

Register FIR immediately, even during court holidays.

Trace and arrest the accused swiftly through inter-district coordination.

Prevent disposal of property or assets by initiating attachment under the CrPC.

Appoint a special officer in Aiza to handle such fraud complaints and offer guidance to victims.

Conclusion

The case of Komati Thirumalesh Shetty is a sobering reminder of how trust and familiarity can be misused to commit large-scale financial fraud, especially in close-knit communities. As the victims plead for justice, the burden now falls on local police and administrative officials to act decisively and restore faith in the legal system.