Cyberabad Police Arrest Two for Duping Investors in Real Estate Scam
Two individuals, J Chandrashekar and Jullapalli Sunitha, were arrested for cheating people out of several crore rupees in a real estate investment scam.
Real Estate ScamInvestment FraudCyberabad PoliceAmacon DevelopersTelangana NewsReal EstateAug 28, 2024
The duo started a company, Amacon Developers, at Madhapur and collected huge amounts of money from people towards investment. They promised higher returns within a short period of time, but later duped the victims.
To make the investors believe, they told that they possess 33 guntas of land at Chevella village and also entered into a Memorandum of Understanding (MoU) with the investors.
On receiving a complaint, the police registered a case and arrested the accused.
Information
The real estate sector has been plagued by numerous scams and fraudulent activities in recent years. Many individuals have lost their hard-earned money to such scams, highlighting the need for stricter regulations and greater awareness among investors.Amacon Developers is a real estate company that was allegedly involved in the scam. The company was started by the accused, J Chandrashekar and Jullapalli Sunitha, at Madhapur.
Frequently Asked Questions
What was the modus operandi of the accused?
The accused promised higher returns within a short period of time and collected huge amounts of money from people towards investment in real estate.
What was the name of the company started by the accused?
The company was named Amacon Developers.
Where was the company located?
The company was located at Madhapur.
How did the police come to know about the scam?
The police received a complaint from one of the victims.
What action was taken against the accused?
The police registered a case and arrested the accused.
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