Hyderabad: Cyberabad Police arrest AV Infra CMD Vijay Gogula for cheating investors of Rs 200 crore

Hyderabad: Cyberabad Police have arrested Vijay Gogula, Chairman and Managing Director of AV Infra, in Ongole for allegedly defrauding hundreds of investors to the tune of Rs 200 crore.

The company, which operated out of Madhapur, is accused of luring unsuspecting investors with false promises of high returns and land allotments.

Buyback scheme promised 50 percent returns

According to police, AV Infra launched an aggressive campaign offering a "buyback scheme", assuring investors of 50 percent returns within 18 months.

In cases where returns could not be paid, the company claimed it would compensate investors by registering plots in their names.

Trusting these assurances, more than 500 individuals reportedly invested substantial sums into the company’s ventures.

Fake ventures in Narayankhed, Yadagirigutta, Budhera

The company claimed to be developing residential projects in areas like Narayankhed, Yadagirigutta, and Budhera. However, investigations revealed that no development work was carried out in these locations despite collecting advance payments from investors. The fraud was allegedly orchestrated through AV Infra's Madhapur office.

Complaint at Gachibowli brought the scam to light

The case came to light after several victims approached the Cyberabad Police Commissionerate in Gachibowli, alleging that they had been cheated. Based on these complaints, police launched an investigation and tracked down Vijay Gogula in Ongole.

Probe underway; more victims expected

Authorities have begun questioning the accused and are collecting evidence related to the financial transactions and additional victims. Officials said the number of complainants is expected to rise as the probe progresses.