Hyderabad police have arrested German luxury car maker BMW's auto finance head Stefan David Schlipf following the complaint of cheating by a car dealer. Apparently car dealer Delta Cars Private Ltd had filed a case against the BMW auto finance head alleging fraudulent practices that caused him losses over Rs 4 crore.
The case was filed in the year 2010. However, BMW has condemned this arrested and backed Schlipf, adding that he was not present in India while making this deal. Schlipf was arrested in Gurgoan and produced before the court which gave 11 days remand to him.