next day he transferred rs 36 crore as a commitment amount expecting the money by evening when he did not get it he visited armstrongs office and realised that he had been cheatedpolice investigation reveals that ibrahim opened a fake frim ace ventures capital mou group of companies in the first week of november he took office furniture on rent as he set up an office on a temporary basis to lure his victims he opened a bank account in his fake companys namethe gang diverted rs 22 crore transferred by girish to a jewellery shop and purchased 4kg of gold from its bengaluru branch shop they diverted rs 36 crore transferred by taram to another jewellery shop and purchased 72kg of gold they paid rs 33 lakh as gstcst against their payment for gold purchasethe gang took all the gold to a hotel in salem where they divided their shares theretwo victimsaccording to police sources girish had mentioned in his complaint that one more businessman by name panitara too had lost rs 36 crore to the same gang police initially thought that the gang cheated three businessmen of over rs 95 crore later police learnt that the person girish had named as panitara was actually taram police clarified that the gang cheated only two victimsa hyderabad businessman who allegedly introduced the victims to the accused was found dead in mysterious circumstances on railway tracks in yelahanka on november 24 police had questioned him the previous day