BMW CEO arrested in cheating case HYDERABAD: The Trimulgherry police arrested Chief Executive Officer (CEO) of BMW Cars Financial Services, India, Stephen David Schlipf for duping a person on the pretext of providing a dealership of BMW cars in the city while collecting `4 crore. David was produced before the local court, which sent him to judicial custody for 14 days.
According to police, a victim lodged a complaint with the police in 2010. Later, the BMW management filed petitions in High court and Apex court seeking stay in the case. After stay order validity came to an end, police arrested BMW CEO.
On May 17, 2010, one Viren Choudhary, managing director of Delta Cars Private Limited, Trimulgherry, lodged a complaint in which the complainant stated that he gave Rs 4 crore to David who promised to provide a dealership of BMW cars in the city. After Viren paid amount, David allegedly failed to provide dealership. As David failed to return amount to victim, Viren approached the police.
News Posted: 26 July, 2014
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