Real Estate Scam: AV Group Directors Defraud 17 Victims of Rs 2.46 Crore
Cyberabad Economic Offences Wing (EOW) is investigating a major real estate fraud where AV Group directors allegedly swindled Rs 2.46 crore from 17 investors by promising high returns on property investments.
Real Estate FraudAv GroupCyberabad EowInvestment ScamHigh ReturnsReal Estate NewsJun 02, 2025
The fraud was executed under the guise of a legitimate real estate business. The directors lured victims into investing large sums of money with the promise of high returns and ready-to-occupy residential flats. One of the victims, Bhupathi Pradeep (38), a private employee from Vanasthalipuram, received a telemarketing call from the company in February 2022.
The caller convinced Pradeep that investing in their real estate schemes would yield substantial profits. When Pradeep expressed interest, he was introduced to a company agent named Narsaiah, who arranged a meeting at the company's Madhapur office. Director Vijayakumar presented three investment schemes and encouraged Pradeep to choose one. Pradeep opted for a flat, and the accused showed him a vacant plot in Kondapur, Ghatkesar Mandal, claiming they were constructing a semi-gated community apartment project on the site.
Trusting their claims, Pradeep transferred Rs 19.45 lakh online as an investment. However, even after the promised timeline, the flat was not handed over. Realizing he had been duped, Pradeep approached the police. Investigations revealed that the accused used similar tactics to defraud multiple individuals. They allegedly collected over Rs 2.46 crore from 17 unsuspecting investors before disappearing.
Authorities have registered a case and launched a manhunt to trace the accused. Victims are being urged to come forward with information to aid the investigation. The Cyberabad EOW is working diligently to bring the perpetrators to justice and recover the lost funds for the victims.
This case highlights the importance of due diligence and caution when investing in real estate or any other high-yield investment schemes. Investors are advised to verify the credentials of the companies and the projects they are investing in to avoid falling victim to such scams.
Frequently Asked Questions
What is the total amount of money defrauded by AV Group?
AV Group directors allegedly defrauded 17 individuals of Rs 2.46 crore.
Who are the directors involved in the fraud?
The directors involved in the fraud are Gogula Lakshmi Vijayakumar and Annapurna.
Where is the AV Group office located?
The AV Group office is located at SP Chambers in Kavuri Hills, Madhapur, Hyderabad.
How did the fraudsters lure their victims?
The fraudsters lured victims through telemarketing calls and promises of high returns on real estate investments.
What should investors do to avoid such scams?
Investors should verify the credentials of the companies and the projects they are investing in, and exercise due diligence and caution.
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