HYDERABAD: Police are searching for a man for allegedly cheating several investors under the pretext of selling open plots at a cheaper price at Madhapur. The victims approached the police after realising they were cheated.
Madhapur Inspector P Ravindra Prasad said a case has been registered against, Y Raghu, and special teams are working to nab him. According to the police, Raghu floated an investment firm which offered high returns in a short span.
Many fell for his marketing techniques and invested big amounts during the past year. Raghu told them returns on investments would be paid in the form of cash or plots. However, for the past few months, Raghu evaded the investors. Realising that they had been cheated, around forty people who had invested a total of around Rs 80 lakh approached the police.