Hyderabad woman allegedly dupes investors with promise of high returns

A woman allegedly duped several women of Rs 18 to 20 crore in Sitaphalmandi, Hyderabad, promising high returns. Now residing in Patancheru, she reportedly assaulted victims who confronted her.

Sangareddy: Promising high returns, a woman reportedly cheated several women to the tune of Rs 18 crore to Rs 20 crore in Sitaphalmandi area in Hyderabad. The woman now residing in Patancheru, had collected money from her neighbours in Sitaphalmandi locality when she stayed there until a few months ago. As she failed to return their investments and refused to respond to their pleas, a few victims formed a group and visited her residence in Patancheru on Thursday.

According to the victims, the woman and her kin assaulted them. One of the victims, Kamala, sustained serious injuries in the attack and they approached Patancheru police.

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Inspector Vinayaka Reddy registered a case and the probe is on. Meanwhile, the victims again visited the police station on Friday and demanded that the police arrest the woman immediately.

In her complaint, a victim Vennela claimed that the woman had assured them by invoking the name of a former MLA from Andhra Pradesh. The victims had been gathering at the police station since Thursday morning. The incident has created a sensation in Patancheru.