Principal flees with Rs 4cr loans

Jul 19, 2012 |

Hyderabad

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Former principal of Don Bosco’s High School Corian Matthew, 45, has vanished with around Rs 4 crore which he allegedly “borrowed” from more than 30 people. The Dundigal police on Wednesday registered a case of cheating against him. According to the police, the accused worked as the principal of the school for more than 26 years and also owned three schools. He borrowed money from various people claiming that he needed the money to improve the school he owned and even promised that he would return the cash with interest. However Corian Matthew sold the school four months ago and has been absconding since then.

The victims approached the police. Srinivas Reddy, a complainant who was cheated for Rs 37 lakhs, registered a complaint with the policeon Wednesday. In the complaint he said, “Ex-principal Matthew took money from me saying he needed it for the school. He said he would pay it back with interest. After trying without success to get in touch with him for several months I am filing this petition.” The police said, “Around 26 people have complained against the ex-principal and we suspect there are more. As of now the amount is close to Rs 3 crore but it could go beyond Rs 4 crore.” The police are searching for Mathew.

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