Hyderabad: A Hyderabad-based investor was duped of Rs 3.17 crore after investing in several real estate projects in the last two years with the promise of 24 per cent returns on a buyback offer.
The investor filed a complaint with the Cyberabad Economic Offences Wing against three representatives of Samooha Projects Pvt. Ltd, alleging that they failed to abide by the agreement. The complainant, Nandakumar, was approached by Venkateshwara Rao, who claimed to be an agent of the real estate company.
In his complaint, Nandakumar stated that Rao took him to the company’s office in Gachibowli, where representatives briefed him about a proposed real estate project at Nandivanaparthy village in Yacharam mandal, Ranga Reddy district.
Investor loses Rs 3.17 crore
Believing the offer, Nandakumar invested Rs 3.17 crore in different projects promoted by the company between September 2020 and March 2022.
However, despite waiting for six years, he neither got the returns nor the buyback amount.
The Cyberabad police’s Economic Offences Wing has booked the representatives of Samooha Group, Mallikarjun, Anita and Anuroopa, for cheating under section 318(4) of the Bharatiya Nyaya Sanhita (BNS).
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