Hyderabad: A major alleged real estate investment fraud has surfaced in Hyderabad, where the Economic Offences Wing (EOW) of the Cyberabad Police has registered a case against three representatives of a real estate company for allegedly cheating an investor of ₹3.17 crore. The complainant alleged that the company promised 24% returns along with a guaranteed buyback of the investment, but failed to honour its commitments even after several years, neither paying the promised returns nor refunding the principal amount.
According to the complaint, Hyderabad-based investor Nandakumar was approached by Venkateshwara Rao, who introduced himself as an agent of Samooha Projects Pvt. Ltd. Rao allegedly took the investor to the company’s office in Gachibowli, where company representatives presented details of a proposed real estate project at Nandivanaparthy village in Yacharam mandal of Ranga Reddy district, along with other investment opportunities.
The complainant alleged that company officials assured investors of returns of up to 24% and a guaranteed buyback of the investment upon completion of the agreed period. Relying on these assurances, Nandakumar invested a total of ₹3.17 crore in various projects promoted by the company between September 2020 and March 2022.
According to the complaint, despite waiting for nearly six years, the investor neither received the promised returns nor the buyback amount. After repeated follow-ups and demands for payment allegedly failed to produce any result, he approached the Cyberabad Police’s Economic Offences Wing seeking legal action.
Based on the complaint, the EOW has registered a case against Mallikarjun, Anita and Anuroopa, representatives of the company, under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS) for alleged cheating. Investigators are now examining investment agreements, financial records, payment documents and the company’s transactions to determine how the money collected from investors was utilised.
Officials are also investigating whether other investors were induced into similar investment schemes using identical promises. If additional victims are identified during the investigation, the scope of the case could widen significantly. The Economic Offences Wing is scrutinising the company’s financial records, bank accounts and project-related documents as part of the ongoing probe.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said that investment frauds are increasingly exploiting digital communication channels and online platforms to target victims. According to him, fraudsters often attract investors by offering unusually high assured returns, buyback guarantees and limited-period investment opportunities. He advised investors to independently verify a company’s legal status, project approvals, financial records and all supporting documents before investing. Relying solely on verbal assurances or attractive profit claims while investing large sums of money can expose investors to serious financial risks.
Experts further advised that any investment scheme promising exceptionally high or risk-free returns should be approached with extreme caution. Investors should verify the company’s registration, the legal status of the project and all contractual terms before committing funds. They also recommend making payments only through authorised banking channels, preserving all receipts and agreements, and promptly approaching the police or the Economic Offences Wing if any dispute or suspected fraud arises. Police said the investigation is continuing and further legal action will be taken based on the evidence collected.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
