Buy-Back scam worth Rs 500 Cr exposed in Madhapur; AV Infra chief booked

Hyderabad: A massive investment fraud worth approximately Rs 500 crore has been exposed in Hyderabad, with Madhapur-based AV Infracon at the center of the scam.

The company’s chairman, Vijay Gogula, is accused of duping hundreds of investors under the guise of a high-return “buy-back policy.”

The scam came to light after multiple victims filed complaints with the Cyberabad Police Commissionerate.

High returns promised, trust betrayed

Vijay Gogula reportedly lured investors by promising to double their money in a short time. Under the so-called buy-back policy, he assured returns of up to 50 percent in 18 months. If returns could not be given, investors were promised land registrations as compensation.

Fake ventures used to win investor confidence

To gain the trust of investors, Gogula claimed the company had ongoing real estate projects in Narayankhed, Yadagirigutta, Budhera, and surrounding areas. These locations were used as a front to justify the supposed land investments.

Delay tactics and blank cheques

When investors demanded their promised returns, Gogula allegedly diverted them by claiming delays or offering to shift investments to upcoming projects. In some cases, he even issued blank cheques as a stalling tactic.

Scam headquarters: Durgam Cheruvu Office

The fraudulent operations were run from AV Infra’s office near Durgam Cheruvu in Hyderabad. From this location, the company conducted collections and engaged with potential investors.

500 plus victims identified; Some lost life savings

Preliminary investigations suggest that over 500 people fell victim to the scam. One elderly investor, identified as Raju, reportedly invested ₹84 lakh, trusting the company’s false assurances.

Police case registered; Search on for chairman

Following the victims’ complaints, a case has been registered at the Madhapur Police Station. The police have launched a search for Vijay Gogula, who is currently absconding. Authorities are also investigating the full extent of the fraud and possible involvement of others in the company.