Cyberabad Economic Offences Wing officials booked a cheating case against four persons and a real estate firm for allegedly duping buyers of Rs 9.66 crore by selling prohibited land in Khanamet. Police are investigating the money trail and the scale of the fraud.
Cyberabad EOW officials arrested an IRDAI Assistant Manager for misappropriating Rs 5.3 crore using forged invoices and documents. Police said the accused, caught in a debt trap, diverted official funds into family accounts by manipulating vendor payment details
The suspects are accused of defrauding 3,600 people of Rs 300 crore. Those arrested include Kalidindi Pavan Kumar, Managing Director of 12 Wealth Capital Services Pvt. Ltd., and his associates: Ravula Sathyanarayana, Boddulu Harikrishna, Valluru Bhasker Reddy, Pagadala Ravi Kumar Reddy, Kollati Jyothi, Kuralla Mounika, and Kurkula Lavanya.
The prime suspect Seetharamaiah, who reportedly collected nearly Rs 20 crore from the victims, mostly residents of Sri Sai Colony in Chintal under the guise of running a chit fund has absconded.
The EOW Deputy Commissioner of Police, K. Prasad said that he had received a complaint from S. Vikranth Reddy, Secretary of Zresta Villas Owners MMACS in which he stated that the MD unauthorisedly executed villa registrations through his directors between 2020-2023
In order to cheat Sanjeev Kumar, the couple came up with an elaborate narrative and even created a fictitious character named Sumanth who they said was a staffer with White House in the USA.
Hyderabad: The Cyberabad Economic Offences Wing busted a bank guarantee fraud and arrested the managing director of a private firm for forgery and cheating a nationalised bank, union Bank of India, by exceeding his credit limits, to the tune of Rs 53 crores. The police have booked two cases against the firm and four of its directors. […]
