Hyderabad: A film actor-cum-producer was caught by the city police for cheating people by assuring to arrange loans for construction of houses and siphoning their amount. Shaik Basith alias Basith (46) of Banjara Hills Road No 7 established a company ‘SBKSSAAS Builders and Developers Private Limited’ (SBK Groups) at Banjara Hills.
A native of Guntur in Andhra Pradesh, Basith came to the city in 2008 and got into real estate business. He started the SBK Group in the city in the following year and later set up branches at Mumbai, Chennai, Bengaluru and Dubai.
“Basith was into providing finance to the film distributors in Hyderabad and Chennai. He used the money collected from the public on pretext of arranging house loans to do finance business. Basith worked as producer for nine Telugu movies and co-produced four films,” said P Radha Kishan Rao, DCP Task Force.
In 2014, he also acted in a movie “Evadra Hero” as lead actor. The movie was released in Telugu and Kannada languages. Explaining the modus operandi, the Task Force DCP said, Basith set up an office at Banjara Hills and appointed a woman as receptionist. If any person visits him showing interest in construction and development of any property, the woman would connect the call to Basith.
“He would ask them to mail the land and project details. After few days he would send them an estimate of the project and ask them to deposit the money in a bank account. After collecting the money, Basith would avoid taking the calls of the clients,” said the official.
He also collected money from persons who were interested to work in film industry by giving them fake assurances of huge profits. In June, Sodisetty Panakala Rao, a resident of KPHB colony, approached him for a loan of Rs 15 crore for construction.
“Basith took Rs 65 lakh as processing fee and registration challan from Rao. When Rao demanded Basith speed up the loan process or refund Rs 65 lakh, he threatened Rao with dire consequences,” said Radha Kishan. In similar manner, he cheated one more person Muvva Guruvaiah, of Rs 32.5 lakh.
Two cases are registered against him at KPHB and Banjara Hills police stations. Basith was nabbed by the Commissioner’s Task Force (west) team on Sunday and handed over to Banjara Hills police station.