HYDERABAD: A city court granted three-day custody of Sahiti Infratec Ventures’ owner Boodati Laxminarayana from Saturday for further interrogation by the Central Crime Station (CCS) police.
CCS sleuths said they had identified 20 more accused in the case, including Laxminarayana’s wife Parvathi and son Sathvik, and the process to identify others involved in the multi-crore fraud was in progress.
The investigations have so far revealed that the Sahiti group had duped over 2,500 customers of Rs 900 crore through various projects.
It was also found that the company had advertised pre-launch offers for a huge gated community at Ameenpur on the city outskirts on social media platforms from June 2019 and collected around Rs 72.81 crore from 240 members. However, the company did not get land acquisition and required permissions from the authorities concerned.
When investors questioned them, the accused initially bought time and later told the investors to cancel their purchase and take the money back. They issued post-dated cheques that bounced. The firm promoters sent legal defamation notices to people who raised their voice, the investigation revealed.
It also found that around Rs 327 crore of the amounts collected by Sahiti Infratec were transferred to various accounts operated by different entities owned by their directors and other individuals....