Hyderabad Couple Among 10 Arrested in Rs 7.66 Crore Real Estate Scam
CCS police in Hyderabad have dismantled a real estate investment scam, arresting a couple and eight others for defrauding investors of Rs 7.66 crore.
Real EstateInvestment ScamHyderabadFraudPolice InvestigationReal EstateOct 04, 2025
According to the police, the prime suspects are Ahmed Sohel Harmoon, also known as Ahmed Sohel, and his wife Sheeba Arshad. The couple, residents of Kalapathar, established a company named Classic Homes India Pvt. Ltd. at Somajiguda in 2022. The company purportedly engaged in home décor, interior design, and construction businesses.
To attract investors, Sohel appointed several agents and portrayed himself as a well-connected businessman with ties to multinational companies and political circles. He promised high returns on investments, initially making timely payouts to gain the trust of potential investors.
One of the victims, a resident of Nawab Sahab Kunta, invested Rs 7.66 crore in multiple installments. In January this year, Sohel assured the victim that the full amount would be repaid within six months, along with the promised profits. However, after the deadline, neither the principal amount nor the returns were provided.
Upon further investigation, the victim discovered that Sohel and his associates had set up offices in three different commissionerates, posing as real estate operators and collecting substantial sums from various individuals. Realizing the magnitude of the fraud, the victim reported the matter to the CCS police.
Based on the complaint, the police registered a case against Ahmed Sohel Harmoon, Sheeba Arshad, Mahmmad Iflekar Sharif, Shabana, K. Vijaya Nikhila, Fareed Bhan, Mahmmad Intiyaz, Suraj Thakre, Khaja Ahwar Arshad, and Ratna Babu. A thorough investigation into the multi-crore fraud is currently underway.
The police are urging other victims to come forward and provide information that could aid in the investigation. The case highlights the importance of due diligence and caution when making investment decisions, especially in the real estate sector.
Frequently Asked Questions
Who are the prime suspects in the real estate scam?
The prime suspects in the real estate scam are Ahmed Sohel Harmoon, also known as Ahmed Sohel, and his wife Sheeba Arshad.
How much money were the investors defrauded of?
The investors were defrauded of Rs 7.66 crore.
What was the name of the company used to carry out the scam?
The company used to carry out the scam was named Classic Homes India Pvt. Ltd.
What promises did the accused make to attract investors?
The accused promised high returns on investments and initially made timely payouts to gain the trust of potential investors.
How many people have been arrested in connection with this scam?
A total of 10 people, including the couple, have been arrested in connection with the scam.
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