Cyberabad Police Unveils ₹6.58 Cr Real Estate Investment Scam, Arrests 5 Accused
Hyderabad: The Economic Offences Wing (EOW) of Cyberabad Police has successfully dismantled a ₹6.58 crore real estate investment scam in Hyderabad. Five individuals have been arrested in connection with the fraud, which promised attractive investment schemes and guaranteed returns, luring 33 unsuspecting victims.
According to police, the accused used a lucrative offer as bait to attract investors. They promised to register a 102-square-yard plot for a deposit of ₹5 lakh, along with a ₹5 lakh insurance cover and assured monthly returns of ₹25,000 for 42 months. This seemingly genuine offer convinced several individuals to invest substantial amounts.
One of the complainants, Katrika Santosh, a businessman from JP Colony in Patancheru, was introduced to the accused through an acquaintance. The accused, identified as Bandi Shivakumar from LB Nagar, Ramavath Madhu, and Ramavath Sakru from Sangareddy, along with Hemakanth Reddy, Bharat, and Shailaja, claimed to be developing a venture named Shubhakshatra Venture on 16 acres in Damaragidda village of Nyalkal mandal, Sangareddy district. To gain credibility, they even set up an office in Miyapur.
Santosh invested ₹5 lakh in September 2025. Similarly, 32 other individuals deposited amounts ranging from ₹1 lakh to ₹5 lakh each, taking the total investment to ₹6.58 crore. However, despite the passage of over six months, the accused neither registered the promised plots nor paid the assured monthly returns. When investors began to question them, the accused allegedly deployed bouncers at their office and resorted to intimidation.
Realizing they had been cheated, the victims approached the police. Based on their complaint, the Cyberabad EOW registered a case against the accused and launched a thorough investigation. Police are now examining the extent of the fraud and tracking the financial trail to recover the defrauded amount.
The arrest of the accused marks a significant step in bringing justice to the 33 victims. The EOW is continuing its probe to ensure all aspects of the scam are uncovered and to prevent similar incidents in the future.
