Nagole trading scam: Three held for multi-crore investment fraud
Three individuals, including a couple, were arrested in Hyderabad for orchestrating a fraudulent investment scheme under the banner of Veerabhadra Trading. The accused lured nearly 290 investors with promises of high monthly returns, collecting around Rs 30 crore.
Hyderabad: In a major financial fraud case, the Nagole police have arrested three persons for allegedly cheating investors to the tune of around Rs 15 crore by luring them with promises of high monthly returns.
The prime suspect, K Veerabhadra Rao (51), a resident of Anand Nagar in Bandlaguda, along with his wife Rajyalakshmi and associate Venkata Durga Prasad, had set up an office under the name ‘Veerabhadra Trading’ in Nagole.
Police said the accused attracted investors by promising a monthly return of Rs 10,000 for every Rs 1 lakh invested. Around 290 people reportedly invested nearly Rs 30 crore in the scheme. Initially, the trio paid returns to a few investors to build trust.
However, the scheme began to collapse after a cybercrime case was registered against Veerabhadra Rao in Gurugram in May 2025, leading to financial troubles. The accused managed to repay about Rs 15 crore but failed to pay the remaining amount.
Realising they had been cheated, victims approached the Nagole police. Based on their complaint, the police arrested Veerabhadra Rao, Rajyalakshmi and Durga Prasad and remanded them to judicial custody.
