Hyderabad: Father-son duo held for cheating people of Rs 20 crore
The arrested persons are Khaja Mujeebuddin (61) of Crystal Constructions and his son Mohd.Jajim Mujeeb (23), both residents of Surya Nagar Colony in Tolichowki.
Hyderabad: The Hyderabad Central Crime Station (CCS) police on Thursday arrested a man and his son on charges of cheating people to the tune of Rs.20 crore that they collected in the form of deposits into businesses.
The arrested persons are Khaja Mujeebuddin (61) of Crystal Constructions and his son Mohd.Jajim Mujeeb (23), both residents of Surya Nagar Colony in Tolichowki.
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According to CCS officials, in 2016, the duo had established Crystal Constructions at Tolichowki and executed development agreements with the land owners for development of property with 50-50 share.
“By showing those development agreements, they collected nearly Rs. 20 crores in the form of deposits from the local people as well as Non-Resident Indians. They used the funds for their personal use causing loss to the depositors,” said the officials.
Based on a complaint, the police team nabbed them when they were planning to flee the country to avoid returning deposits.
