Hyderabad. Hyderabad police have formed special teams to investigate an alleged ₹4.50-crore property fraud involving 54 victims. The case involves allegations that different portions of the same property were sold or mortgaged to multiple people through separate agreements. The prime accused, Rashad-Ul-Khair and Mumtaz Begum, are currently absconding and efforts are underway to trace them.
The case relates to a property in Darab Jung Colony, Madannapet, comprising a ground floor, two upper floors and a penthouse. According to police, the accused allegedly entered into sale and mortgage agreements for the same portions with multiple buyers and investors. In some cases, the agreements were allegedly executed with possession, while in others they were made without handing over possession.
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Investigators suspect that earlier transactions involving the property were concealed while subsequent deals were entered into with other people. As a result, several buyers and investors allegedly put money into the same property without being aware of the previous agreements. Police are examining property documents, sale and mortgage agreements and related financial transactions to determine the full extent of the alleged fraud.
According to the investigation, the accused allegedly used a strategy to gain the confidence of prospective buyers and investors. Police said some victims were allegedly paid monthly rent for several months. The regular payments are suspected to have helped create confidence among investors that the property transactions were genuine and capable of generating income.
Property brokers were also allegedly used to reach more prospective buyers. The accused allegedly offered attractive commissions to brokers, who then promoted the property to potential investors and buyers. Investigators are now examining the role of the brokers and trying to establish how many people were brought into the transactions through them.
The initial complaint in the case was filed by Nayeem Banu. Based on the complaint, a case was registered at the IS Sadan police station on July 11. The investigation was subsequently transferred to the Central Crime Station (CCS), Detective Department.
Police said the alleged fraud took place between March 8, 2021, and June 22, 2026. During this period, the accused allegedly carried out multiple property-related transactions with different individuals. Based on the cases identified so far, the total amount involved is estimated at around ₹4.50 crore. Investigators are examining whether further victims or transactions could emerge during the probe.
The special teams are scrutinising property records, transaction documents, bank accounts and other financial details linked to the accused. Investigators are also attempting to establish the sequence of transactions involving the property and identify how the same portions were allegedly offered to multiple people.
Police are also looking into the movement of the money collected through the alleged transactions and whether other individuals played a role in facilitating the deals. The investigation is expected to focus on identifying all the beneficiaries and intermediaries connected with the alleged fraud.
The prime accused, Rashad-Ul-Khair and Mumtaz Begum, remain absconding. Police teams are conducting searches to locate them and are examining available records and other leads to trace their whereabouts. Further details are expected to emerge as the investigation progresses.
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.
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