Telangana: Radiologist defrauded of Rs 2.74 crore by realtor

The accused also reportedly told him that he had received all required permits from concerned departments to carry out the construction. Trusting him, the doctor invested funds.

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HYDERABAD: A 43-year-old radiologist from Gandhi Nagar was allegedly defrauded of Rs 2.74 crore by a realtor who sought his investment in a new venture in Ghatkesar.

The realtor reportedly met the doctor at his sister’s family gathering and became acquainted over time. In 2022, he said that he was developing a venture at Ghatkesar on 1,028 square yards and offered a 100% return on investment to the radiologist.

The accused also reportedly told him that he had received all required permits from concerned departments to carry out the construction. Trusting him, the doctor invested funds in the project over a period of one year.

After receiving the funds, the accused drafted an Agreement of Sale and promised a 100% return on deposit or to deliver a flat equivalent to his investment.

However, on inquiry, the victim learnt that the realtor did not own the land. When confronted, he gave a false cheque of reimbursement.

Following this, the victim filed a complaint and the case is currently under investigation with the Hyderabad Economic Offences Wing.

Meanwhile, the police cautioned the public not to believe in investment opportunities that propose a massive return on investment.