Couple arrested for fraud booked in fresh 42crore cheating case in Hyderabad

Hyderabad: Three weeks after a couple were arrested by Central Crime Station (CCS) sleuths of Hyderabad police for cheating an investor by defrauding Rs 73 crore, a fresh case was registered by Cyberabad's Economic Offence Wing (EOW) after another complainant accused the couple of causing him a loss of Rs 42 crore.Police said that the case was registered based on a complaint lodged by Bhupathi Raju Venkata Narasimha Raju against Sri Sai Ram Enterprises, Sandhya Rani, P Subbaraju, Ramdas, Namburi Sridhar, and N Koushik.The victim said that Subbaraju introduced Sandhya Rani and her husband Sridhar, who claimed to run a textile business in Kukatpally. They allegedly gained his confidence by saying their firm supplied uniforms in bulk to hospitals and educational institutions.The couple then allegedly lured the complainant into investing, promising high returns. The complainant said he invested Rs 41 crore, and initially received returns, but never got back his principal amount. The couple reportedly kept delaying payment, citing various excuses."Sandhya, Subbaraju, Ramdas, Sridhar, and Koushik played a key role in convincing me. I have now realised the purchase orders they showed me were fabricated. They deceived me into investing 42 crore," the the complainant alleged, adding that his money was diverted into various real estate ventures.Police said the couple collected large sums from several victims by showing fake orders. To build trust, they even took investors to their Kukatpally unit, where about 150 people were employed.