HYDERABAD: The CCS of Hyderabad police registered a case against a husband and wife for allegedly cheating several persons of Rs 1.58 crore. The accused were identified as Wajid Ahmed Khan and his wife, Arthi Kumari.
Police received a complaint from Rayees Ahmed, who stated that Wajid Ahmed Khan was personally known to him. In November 2025, Khan allegedly approached him claiming that he was working with CARS24, a company engaged in the buying and selling of used cars.
Khan allegedly told Ahmed that he had an opportunity to purchase used cars from CARS24 at lower prices and resell them at higher rates for substantial profits. Claiming that he lacked sufficient capital to carry out the business, he requested Ahmed to invest money with him.
He allegedly assured Ahmed that the investment was safe and promised high returns. Believing these assurances, Ahmed invested `58 lakh, which was transferred to the accounts of Wajid Ahmed Khan and Arthi Kumari on different dates.
Police said Khan allegedly used similar representations to persuade several of Ahmed’s friends to invest money with him. The total amount collected from all the investors exceeded Rs 1.58 crore.