HYDERABAD: A UK-based software engineer, who was duped of Rs 2.1 crore by a fake trading company, has expressed his frustration as authorities have allegedly delayed in addressing his investment fraud case.
Despite filing a complaint three months ago, the only progress is the transfer of the case through Zero FIR, said the victim, Narayana Reddy Sama, who is a native of Gannora village in Nirmal but currently resides in Burlington House, United Kingdom.
Speaking to TNIE, Reddy lamented that he had invested Rs 2.19 crore in a company called AMZ WHEAT CO8 which lured him by promising substantial returns of Rs 5 crore from trading US wheat.
“The company operated under various names and locations including Kolkata, Assam, and Rajasthan. It initially made me invest with assurances of high profits within a few months,” he said.
He explained that although he had filed a complaint with local authorities, the case was eventually transferred to Hyderabad Cybercrime Police through a Zero FIR. This transfer process has significantly delayed any tangible action.
Though he reportedly informed 1930 through which the amount is frozen for the recovery, the officials seeking the case FIR which just took place a couple of days ago. The victim has also had to fly to India to pursue the matter personally, adding to his financial and emotional strain.
The alleged delays and complexities in the case have intensified Reddy’s concerns, highlighting the challenges faced by victims of international fraud.
He emphasised the need for a more streamlined and responsive legal process to address such cases effectively. “I was specific about registering the case in Telangana because the bank account where I sent the amount is based in Mumbai and Indian police could take action. I have always been cautious about such lucrative offers but this time I feel unfortunate,” he said.