Hyderabad: Hyderabad-based jeweller was arrested on Sunday, December 1 for allegedly cheating investors on the pretext of high returns.
The accused identified as Kanthi Dutt, originally from Visakhapatnam gained prominence in Hyderabad’s business circles through ventures like Tritiyaa and SustainKart, often leveraging celebrity endorsements to boost his image.
The arrest follows after allegations of investment fraud involving Bollywood actress Parineeti Chopra and other parties. The case came to light when co-founder of Tritiyaa, Srija Tippala, filed a formal complaint against the accused.
According to the complaint, Srija claims that the startup founder in Hyderabad falsified her qualifications and removed her as director of the company replacing her with his mother. After investing over Rs 2.5 crore in the business she uncovered the fraud through the Right to Information (RTI) application.
Earlier this year, the accused faced several accusations including those from India Accelerator (IA) which alleged that he falsified financial records related to his previous venture, SustainKart. Despite GST filings showing lower revenue, Dutt reportedly inflated financial reports to attract more investments.
IA and other investors, who had put in over Rs 2 crore into SustainKart, have also taken legal action.
Parineeti Chopra who had publicly shared her investment in Tritiyaa is said to be among those impacted by Dutt’s fraudulent activities. Other prominent individuals, including celebrity designers and actress Samantha Ruth Prabhu, are also reportedly victims of the scam.
The Central Crime Station (CCS) and Jubilee Hills police are currently investigating the startup founder in Hyderabad.
Follow on Twitter | Posted by Mohammed Baleegh | 
