Hyderabad scam couple jailed for Rs 73 Cr, booked again for Rs 42 Cr fraud
Police said the accused projected themselves as owners of a textile business in Kukatpally, claiming to supply uniforms in bulk to hospitals and educational institutions.
By Newsmeter Network
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Hyderabad: A jailed couple, facing charges of duping an investor of Rs 73 crore, have landed in fresh trouble after being accused of cheating another businessman of Rs 42 crore over a fake textile deal.
Complaint by Businessman
The Cyberabad Economic Offence Wing (EOW) registered the case after Bhupathi Raju Venkata Narasimha Raju lodged a complaint against Sri Sai Ram Enterprises, Sandhya Rani, her husband Sridhar, and their associates Subbaraju, Ramdas, and N Koushik.
Textile trade as bait
Police said the accused projected themselves as owners of a textile business in Kukatpally, claiming to supply uniforms in bulk to hospitals and educational institutions.
Rs 41 Cr invested, No returns
The complainant said he invested Rs 41 crore after being promised high returns. Though he received some initial payments, the principal amount was never returned. The couple allegedly kept delaying repayment with excuses.
Fake orders, diversion of funds
Later, the complainant realised the purchase orders shown to him were fabricated. He alleged that the accused diverted his money into real estate ventures.
Modus operandi exposed
According to police, the couple used fake supply orders to lure multiple investors. To strengthen credibility, they even took victims to their Kukatpally unit, where around 150 employees were shown at work.
