Hyderabad police urge DFI depositors to submit details for refund process

Hyderabad Police have asked investors of Dhanwantari Foundation International to submit their details to the CCS for the refund process. Authorities have attached properties linked to the alleged Rs 516-crore fraud and plan to distribute auction proceeds among depositors.

Hyderabad: The Hyderabad Police have urged depositors of Dhanwantari Foundation International (DFI) who have not yet submitted their investment details to the Central Crime Station (CCS) to come forward at the earliest to facilitate the refund process.

According to police, CCS registered a case in December 2023 against DFI, represented by its director Dr P Kamalakar Sharma and others, for allegedly cheating more than 2,000 investors by collecting around Rs 516 crore. The suspects allegedly targeted members of the Brahmin community, promising high returns on deposits within a specified period.

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During the investigation, the suspects were arrested, and authorities identified assets allegedly acquired through the scheme, including nearly 450 acres of land in Telangana and Andhra Pradesh and about 3,000 square yards of commercial property in a prime area of Hyderabad.

The government subsequently issued eight orders for the ad-interim attachment of these properties. Police said the attached assets were later made absolute by the court, while the High Court dismissed appeals filed by DFI challenging the attachment orders.

DCP (Detective Department) S Chaitanya Kumar said depositors who have not yet furnished their details should do so immediately. The information will help authorities prepare the list of depositors, enabling equitable distribution of sale proceeds after the auction of the attached properties, he said.