The Central Crime Station (CCS) of Hyderabad Police has registered a case against Wajid Ahmed Khan and his wife, Arthi Kumari, for allegedly cheating multiple investors of more than ₹1.58 crore by luring them with promises of high returns. The couple is accused of claiming to be involved in the used-car business and collecting large sums of money from investors before allegedly failing to honour their commitments.
According to the complaint, Rayees Ahmed, who personally knew Wajid Ahmed Khan, was approached by him in November 2025. Khan allegedly claimed that he was engaged in the business of buying and selling used cars and had access to opportunities to purchase vehicles at discounted prices and resell them for substantial profits.
The complaint states that Khan told Ahmed he needed additional capital to expand the business and assured him that the investment was completely safe and would generate attractive returns. Trusting these assurances, Rayees Ahmed allegedly invested ₹58 lakh through multiple transactions, with the money being transferred to the bank accounts of Wajid Ahmed Khan and Arthi Kumari.
The investigation further revealed that Khan allegedly used the same business proposal and promises of high profits to persuade several of Ahmed’s friends to invest. According to the police, the total amount collected from all investors exceeded ₹1.58 crore.
Preliminary findings suggest that the accused gained the confidence of investors by presenting the investment as part of a profitable used-car trading business and promising quick and substantial returns. When investors later sought repayment of their money or the promised profits, they were allegedly met with repeated delays, eventually prompting them to approach the police.
Based on the complaint, the CCS has initiated an investigation into the financial transactions, bank accounts, and investment-related documents. Investigators are also examining how the collected funds were utilised and whether additional investors may have been targeted through the same scheme.
Experts at the Future Crime Research Foundation, who specialise in cyber and financial crimes, advise investors to independently verify business claims, registrations, contracts, and financial records before investing. They caution that relying solely on personal acquaintance, verbal assurances, or promises of unusually high returns can expose investors to significant financial risks.
The experts further note that any investment opportunity offering exceptionally high profits within a short period, without adequate documentation or transparent business information, should be treated with caution. Maintaining proper records of all payments and promptly reporting suspicious activity to the appropriate authorities can help minimise potential losses.
Police said the investigation is continuing, and further legal action will be taken based on the evidence, banking records, and other documents collected during the probe. Authorities are also examining whether there are additional victims or associates connected to the alleged investment fraud.
