HYDERABAD: The Central Crime Station (CCS) of Hyderabad police has registered a cheating case against retired IAS officer from Andhra Pradesh, Dayachari Ponnekanti, popularly known as Dr Chari, for allegedly duping a 57-year-old NRI of over Rs 4 crore.
The complaint was filed by Vikramaditya Boppudi, a software professional currently based in Virginia, US. Originally from Visakhapatnam, he moved to the US in 1991 for higher studies and has been working there since.
According to the complaint, Vikramaditya was introduced to Ponnekanti through his wife in 2012. The retired officer allegedly projected himself as a global entrepreneur engaged in oil and commodity trading, iron ore and sea sand mining, exports and alternative energy projects in countries such as Thailand, Brazil and Indonesia.
He later proposed a turnkey sea sand mining project in Indonesia, describing it as highly profitable. Vikramaditya was introduced to members of the APIND Group at their Jubilee Hills office, including Ponnekanti’s wife Sobhana Dayachari and daughter Samata Sarma Ponnekanti.
During meetings, the complainant alleged, he was told that all required government permissions for overseas operations had been secured and was shown documents to that effect. Relying on these representations, he transferred $500,000, raising funds through loans and other sources.
Despite repeated requests, he did not receive share certificates or returns on the investment and was allegedly given evasive responses.
Police registered a case under Section 420 of the IPC.