They allegedly cheated 60 unemployed youth of Rs 1.2 crore.
A software job racket was busted and three people were arrested in Hyderabad on Thursday, according to the police.
They allegedly cheated 60 unemployed youth of Rs 1.2 crore by promising them employment in multinational companies, police said.
P Rajesh, N Kishore Babu and K Anush Chaitanya floated two fake IT companies and collected Rs 2 lakh from each of the 60 youth for the jobs in the firms, police added.
The trio assured the youth of placements in companies like TCS, Wipro, Tech Mahindra after they gain experience.The victims lodged complaints with police when the trio did not provide any work or salary after collecting the sum from them, it added.