Hyderabad software engineers allege Rs 1.59 crore fraud over promised business returns

Two software engineers have accused three persons of cheating them of Rs 1.59 crore by promising high returns from a business venture linked to services provided to Aurobindo Pharma. Hyderabad CCS has registered a case and begun an investigation.

Hyderabad: Two software engineers have lodged a complaint with the Hyderabad Central Crime Station (CCS), alleging that they were cheated of approximately Rs. 1.59 crore on the promise of high returns from a business venture.

According to the complaint, one Machireddy Sai Venkata Manoj Kumar introduced his friend Chirag, CEO of Webcorps, to the victims. He allegedly claimed that his mother was running a company in Visakhapatnam that provided security personnel, labour and laundry services to Aurobindo Pharma.

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Promising a share in the profits generated through these services, Manoj Kumar persuaded the complainants, identified as Repalli Achyuth of Begumpet and Pujari Lokesh of Sanathnagar, to invest money.

Initially, he reportedly made some payments in the name of profits, gaining their confidence.

Trusting his assurances, the victims invested a total of Rs. 1.59 crore. However, when they repeatedly demanded their money, he allegedly evaded them without making further payments.

The complainants also stated that several others had allegedly fallen victim to the same scheme. They accused Manoj Kumar, his wife Mounika and Thani Nalini of being involved in the fraud.

The Hyderabad CCS has registered a case and taken up an investigation.