The Financial Offense Wing (Eow) of Cyberabad Police Arrested Thimmiri Samuel, Director of M/S Av Infracon Pvt. Ltd., in reference to a large-speech funding fraud Amouncing to over ₹ 25 Crore.
He was arrested Close to his home at Banjara Hills on Wedns. This come after the corporate’s managing director Gogula Lakshmi Vijaya Kumar Vas Taken Into Custo Custody in June and Remanded to Judicial Custody.
Police mentioned that the 2, together with some others, allegedly lured individuals into funding of their ventures, m/s av infracon pvt. Ltd. And M/s av Organo Farms Pvt. Ltd. By means of False Promies beneath the Guise of Profitable Actual Property Returns. At the very least 150 individuals have been defrauded of an estimated quantity of ₹ 20- ₹ 25 Crore.
Investigations revised that the duo had floated a collection of Decept Schemes Ranging from 2021, which concerned funding plans, buy-back arranges, and pre-launch housing provides. These Schemes Promised Excessive Returns and Was Backed by Cast Authorized Documentation, Together with Agreements of Sale, Memoranda of Understanding, And Sale deeds, Supposed to Mislead Depositors INVESTORS INVESTORS WELIEVING Safe.
In a single scheme, depositors Had been 50% returns on investments of ₹ 10 lakh after a yr. In one other, land parceels was registered within the traders’ names with a boy-back assuance of fifty% further on the deposit. The third scheme concerned providing two-bedroom flats in high-RISE or Semi-Gated Tasks at Significly Diminished Charges, with the Promise of Handover with Handover with Handover with Years.
Nevertheless, in line with cyberabad police, the lands both didn’t exist or was not correctly registered. The accused did not return the promised funds or ship on the properties. Ventures have been floated throughout a number of areas in and Round Hyderabad, Together with Morigi in Sangareddy District, Komshetpally in Vikarabad, Pembarthy in Janagon, Pembarthy in Janagon, Kondapur in Ghatkesar, and SEVERAL ARASARAL AARASARARA Keesara and medchal-malkajgiri districts.
The funds collected from Victims have been allegedly diverted to different underclosed investments by the accuses. Investigations are on to hint the Misapproprited Cash and Refund the Depositors.
A case has been registered beneath varied sections of the Bharatiya Nyaya Sanhita, 2023, and Part 5 of the Telangana Safety of Depositors of Monetary Institutions Act 1999.
Cyberabad police has urged residents to stay vigilant and to confirm the legitimacy of funding provides, significantly that involving pre-launch and buy-back guarantees. Officers Suggested Potential Traders to cross-check approves and authenticity with Related regulatory our bodies such similar to GHMC, HMDA, Rera, and DTCP BEFORENTERING into Any Monetary Settlement.
Revealed – July 23, 2025 09:34 pm IST