HYDERABAD: The Economic Offences Wing (EOW) of Cyberabad police has booked two persons for allegedly cheating multiple victims of Rs 2.14 crore by promising high returns from toy shop investments.
The case was registered on a complaint by Kandikonda Lavanya against Vadde Sri Priya and Ramakrishna.
Lavanya said Sri Priya, introduced through a friend, claimed to invest in toy shops in Tirumala Tirupati and earn about Rs 50,000 per day. She sought funds, promising repayment within 10 days with 10% interest.
Lavanya initially paid Rs 1 lakh and received partial repayment, gaining confidence. She later invested larger amounts but received only partial returns. When she sought the remaining Rs 4.12 lakh, the accused promised payment by the second week of April.
However, when Lavanya visited her house, it was locked. She later learnt that the accused had vacated the house and was not responding to calls. Further enquiries revealed that several others had been cheated in a similar manner.
Lavanya said over 20 persons were affected, with total losses amounting to about Rs 2.14 crore. Based on the complaint, police registered a case and launched an investigation.
Retired teacher duped of Rs 25 lakh
A 72-year-old retired teacher from Ameenpur was cheated of Rs 25 lakh in a digital arrest fraud. She received calls between April 14 and 30 from persons posing as Anti-Terrorism Squad officials, who accused her of involvement in a terrorism funding case.
They asked her to transfer money for ‘verification’, citing Aadhaar details and threatening restrictions on her movement. She was kept on video and WhatsApp calls, told not to inform anyone and made to give a written undertaking.
Claiming the case was in the Supreme Court, they forced her to transfer Rs 25 lakh to multiple accounts. Realising it was a fraud, she approached Cyberabad cybercrime police. A case has been registered