Hyderabad: A family here has duped 54 Hyderabad citizens out of Rs 4.5 crore by allegedly executing agreements of sale and mortgage agreements on the same property, police said on Wednesday, October 7.
According to a press release, the case came to light on July 11 this year after Nayeem Banu registered a complaint at IS Sadan Police Station stating that Rashad-Ul-Khair had cheated her out of Rs 15 lakh.
Banu was looking to buy a property and was introduced to Rashad through a property broker. He offered to sell the third floor of his family building in Darab Jung Colony, Madannapet, for Rs 25 lakh.
A formal agreement of sale was executed, and Rs 15 lakh was handed over to Rashad. To cement the victim’s trust, Rashad’s mother, Mumtaz Begum, also actively participated in the deal and signed the agreement of sale.
Banu was then given the original documents for the property, which later turned out to be fake. She tried contacting Rashad over the phone and even visited his house, only to find it locked.
Rashad’s sister Afsheen has also been named as an accused.
A case was registered under section 318 (4) (cheating involving property delivery or tampering with valuable securities) of the Bharatiya Nyaya Sanhita (BNS).
Investigation revealed that the family had cheated many people, and the case was transferred to Central Crime Station (CCS) Hyderabad on August 24.
A fourth accused, Asma Begum, used to reside on the said property and posed as a tenant in rental agreements. These agreements were used for mortgage transactions.
Asma was arrested on September 4 and remanded to judicial custody. The rest of the accused are currently absconding.
Further investigation is underway.
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