Foreign Investor Duped of Rs 12 Crore in Andhra Pradesh Real Estate Scam
A foreign national was defrauded of Rs 12 crore by a man who promised high returns on real estate investments in Andhra Pradesh. The accused has been arrested, and the case is under further investigation.
Real EstateFraudAndhra PradeshInvestorPuttaparthiReal Estate NewsMay 30, 2025
He took around ₹8 crore through bank transactions, claiming it was for land purchases, and also collected additional funds for investing in the stock market and cricket betting. The victim, who initially trusted Raju, gradually became suspicious as the promised returns failed to materialize. Concerned about the lack of transparency and the mounting losses, Arvin filed a complaint on May 22 at the Puttaparthi Urban Police Station, leading to the registration of a case.
Based on the investigation, police arrested the accused and produced him in court, from where he was remanded. The DSP, Vijay Kumar, praised the swift action taken by the Puttaparthi Urban Police in solving the case and ensuring the arrest of the fraudster. The police are now working to recover the funds and bring the perpetrator to justice.
The incident highlights the risks associated with real estate investments, especially when dealing with unfamiliar individuals or companies. Investors are advised to conduct thorough due diligence and verify the credentials of any potential partners before committing to large financial transactions. The Puttaparthi police have also issued a warning to the public to be cautious of such schemes and to report any suspicious activities to the authorities.
This case serves as a stark reminder of the importance of vigilance in the real estate market, where high returns often come with high risks. Investors should always seek legal and financial advice before making significant investments to protect their interests and avoid falling victim to fraud.
Frequently Asked Questions
What happened in the real estate scam in Andhra Pradesh?
A foreign national named Arvin Francis Mahendrakar was defrauded of ₹12 crore by Ratnakaram Sathyanarayan Raju, who promised high returns on real estate investments. The accused collected the money through bank transactions and also for stock market and cricket betting.
Who was the victim in this scam?
The victim was Arvin Francis Mahendrakar, a foreign national who was lured into the investment scheme by the accused, Ratnakaram Sathyanarayan Raju.
How much money was defrauded in this scam?
The total amount defrauded in this scam was ₹12 crore, with around ₹8 crore being taken through bank transactions for land purchases and additional funds for stock market and cricket betting.
Who arrested the accused in this case?
The Puttaparthi Urban Police arrested the accused, Ratnakaram Sathyanarayan Raju, based on the complaint filed by the victim. The accused was remanded in court.
What advice is given to investors to avoid such scams?
Investors are advised to conduct thorough due diligence, verify the credentials of potential partners, and seek legal and financial advice before making significant investments. They should also report any suspicious activities to the authorities.
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