Foreigner Duped of Rs 12 Crore in Real Estate Scam
A man accused of defrauding a foreign national of ₹12 crore under the pretext of high returns in real estate investments has been arrested in Puttaparthi. The police acted swiftly to apprehend the suspect, who was remanded into custody.
Real EstateFraudPuttaparthiInvestmentScamReal EstateMay 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. Following a complaint filed by the victim on May 22 at the Puttaparthi Urban Police Station, a case was registered.
Based on the investigation, police arrested the accused and produced him in court, from where he was remanded. The DSP appreciated the swift action taken by the Puttaparthi Urban Police in solving the case.
The incident has raised concerns about the safety and security of foreign investors in the real estate market. The Puttaparthi police have assured that they will take necessary steps to prevent such scams and protect the interests of investors.
Arvin Francis Mahendrakar, a resident of a foreign country, had been looking for high-yield investment opportunities in India. Sathyanarayan Raju, known to the victim, promised him lucrative returns on real estate investments, which seemed too good to be true. Unfortunately, the victim fell prey to this elaborate scam, losing a substantial amount of money in the process.
Frequently Asked Questions
Who was the victim in this real estate scam?
The victim was Arvin Francis Mahendrakar, a foreign national who was duped of ₹12 crore.
How much money was taken from the victim?
The accused took around ₹8 crore through bank transactions and collected additional funds for investing in the stock market and cricket betting, totaling ₹12 crore.
When was the complaint filed?
The complaint was filed on May 22 at the Puttaparthi Urban Police Station.
Who is the accused in this case?
The accused is Ratnakaram Sathyanarayan Raju, who was arrested and remanded into custody.
What steps are being taken to prevent such scams?
The Puttaparthi police have assured that they will take necessary steps to prevent such scams and protect the interests of investors.
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