Hyderabad: The Hyderabad Central Crime Station police on Friday arrested Mohd Altaf Ahmed (44), an NRI from Saudi Arabia on charges of fraud.
Altaf Ahmed, a native of Karimnagar, was the colleague of the complainant working at a bank in Saudi Arabia. Police said Ahmed, along with his associates, convinced the complainant and two other persons, all three residents of Saudi Arabia, to invest in a solar power project at different places in Telangana, promising huge profits.
“They were assured that they would have to pay only 25 percent of the project cost with the remaining to be borne by the Central government. The total project cost was estimated at Rs.7.4 crore and the suspects collected Rs.2.18 crore from the complainant,” police said, adding that they collected Rs.12 crore in the same manner from other victims too.
The suspects, in order to convince the victims, had also forged a fake power purchasing agreement of the Chief Engineer, TSSPDCL, fake email IDs and other documents, police said.