Man Held For Allegedly Cheating Investors Of ₹50 Lakh
Police said cases were registered against him in 2015, 2016, 2018, 2025 and 2026. Suman was produced before a court and remanded in judicial custody.
KADAPA: Kadapa One Town police arrested a 43-year-old man on Thursday for allegedly cheating several people by promising high returns through global trading and overseas food export businesses.
The accused was identified as Jestadi Suman Deepak Raj, a native of Tadipatri in Anantapur district and currently residing in Hyderabad. Police said he collected around `50 lakh from victims by making false claims about his business credentials.
According to a complaint lodged by Godugu Shiva Kumar on April 11, Suman allegedly claimed that he owned two Hyderabad-based companies — Jestadi Suman Global Trading Private Limited and Ever First Imperial Global Logistics Private Limited. He also allegedly claimed to have an international trading licence and promised high returns on investments in the companies and an overseas food export business.
Trusting the assurances, Shiva Kumar allegedly invested Rs 50 lakh and was subsequently cheated, police said.
During the investigation, police reportedly found that Suman had allegedly cheated several other people using similar promises and collected substantial amounts from them. Several cases had already been registered against him at different police stations, they said.
Police said cases were registered against him in 2015, 2016, 2018, 2025 and 2026. Suman was produced before a court and remanded in judicial custody.
Further investigation is under way to identify other alleged victims and ascertain the total amount collected by him, police said.
