HYDERABAD: The Central Crime Station (CCS) of Hyderabad police arrested a woman in connection with a Rs 4.5 crore fraud case in which multiple victims were induced to part with money through false representations about property in IS Sadan.
The accused, Asma Begum, was arrested on September 4, while the other accused are absconding, police said.
The case was initially registered at IS Sadan police station on July 11 based on a complaint by Nayeem Banu. During the investigation, police found that several others had allegedly been cheated by Rashad-Ul-Khair, Mumtaz Begum and others. The case was subsequently transferred to the CCS and re-registered.
Police said Rashad and Mumtaz were in possession of a ground-plus-two-floor building with a penthouse in Madannapet. The accused allegedly entered into sale and mortgage agreements for the same portions of the property with multiple people, both with and without physical possession, while concealing earlier transactions.
According to police, the accused also paid monthly rent to some victims for several months to build trust. Property brokers were allegedly offered attractive commissions to bring prospective victims and advertise the properties. So far, 54 victims have been examined. Police said the accused cheated victims of about Rs 4.5 crore between March 8, 2021, and June 22 this year.
Asma, who lived on the third floor of the premises, allegedly posed as a tenant in rental agreements shown to victims. Police said the other accused used these arrangements in mortgage transactions to gain victims’ confidence and induce them to part with money.