A software professional in Hyderabad has been accused of cheating two former colleagues of ₹3.56 crore through an alleged investment scheme that promised high monthly returns and additional annual profits. The Economic Offences Wing has registered a case based on the complaint and begun examining transactions, payment records and the activities of the accused.
The accused has been identified as Desu Sandesh. According to the complaint, C. Venkata Reddy, a resident of Nizampet, became acquainted with Sandesh while working at an IT company in 2020. The professional association later developed into a friendship, during which Sandesh allegedly claimed to be running a company offering lucrative investment opportunities.
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Trust Built Through Initial Payouts
The complaint alleged that Sandesh assured Venkata Reddy that the investment model carried minimal risk and would provide steady monthly income. Influenced by these assurances, Venkata Reddy allegedly invested ₹1.92 crore, part of which was raised through bank loans.
The accused allegedly promised monthly returns of up to ₹3.5 lakh on the investment. During the initial months, the complainants said regular payouts were made, strengthening confidence in the scheme and encouraging further investment.
Encouraged by the apparent returns, Venkata Reddy introduced his friend Subramanyam to the investment opportunity. Sandesh allegedly persuaded both men to invest more by promising monthly profits and an additional annual return of five percent.
Payments Stopped After Five Months
According to the complaint, the two investors collectively invested ₹3.56 crore. The arrangement allegedly continued for about five months before the accused stopped making monthly payments.
The complainants said their repeated attempts to contact Sandesh through phone calls, messages and other means went unanswered. After failing to recover their money, they approached the authorities and filed a formal complaint.
The complaint alleges that the accused used personal trust and professional familiarity to persuade the victims to invest large sums. The matter has now been taken up for investigation by the Economic Offences Wing.
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Investigators are examining investment transactions, payment records and the alleged business activities of the accused. Authorities are also working to trace the flow of funds and determine the nature and legitimacy of the investment operation.
Cybercrime expert and former IPS officer Prof. Triveni Singh said financial fraudsters often exploit personal relationships, professional networks and social trust to convince people to invest. He cautioned that schemes promising exceptionally high returns with limited risk should be independently verified before any investment decision.
The investigation remains underway. Further action will depend on the findings from the financial records, transaction trail and evidence gathered during the probe.
