States » SouthPosted at: Mar 5 2025 2:29AM


Telangana: AP man held for investment fraud to tune of Rs 14 Cr

Hyderabad, Mar 4 (UNI) The Economic Offence Wing (EOW) of Cyberabad Police has arrested a man who allegedly cheated complainant and others to the tune of Rs 14 crore in the name of investment and good returns.
Based on a complaint A Jhansi, the accused Kandula Srinivasa Rao, native of Eluru, West Godavari District of Andhra Pradesh, was arrested after registration of a case under sections 316 (2), 318 (4), 61 (2) of BNS and section 5 of the Telangana Protection of Depositors of Financial Establishment Act- 1999 of EOW PS, Cyberabad, said K Prasad, Deputy Commissioner of Police, EOW, Cyberabad in a release here on Tuesday.
The 44-year-old accused person established several companies under the style of M/s Well Vision Group of companies and induced the customers / investors in the guise of investment / deposits and huge monthly returns and cheated about 200 members and collected amount worth around Rs 14 Crore from them.
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Tags: #Telangana: AP man held for investment fraud to tune of Rs 14 Cr
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