Investment fraud: Man who cheated several to tune of Rs. 17cr held

The city police on Monday arrested a man in connection with a Rs. 17 crore investment scam.

By Newsmeter Network  Published on  27 Sep 2021 2:16 PM GMT
Investment fraud: Man who cheated several to tune of Rs. 17cr held

Hyderabad: The city police on Monday arrested a man in connection with a Rs. 17 crore investment scam.

D. Ravi Shankar of Jubilee Hills, Hyderabad, had filed a complaint against Raviprolu Sri Harsha alias Harsha Raviprolu and a case had been registered. The former alleged that Harsha had cheated him and several others on the pretext of providing huge interests on investment. In this way, Harsha had collected Rs. 17 crores from them. He has been absconding since September 2019.

The police received information that Harsha was hiding in Kharar in Punjab's Mohali district. A team rushed to Kharar and apprehended the accused. He will be sent to judicial remand.

The 36-year-old accused was a former employee of Axis Bank, Abu Dhabi.

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