Two Arrested in Rs 98-Crore Investment Fraud in Kakinada
10 July 2026 2:25 PM IST10 July 2026 2:25 PM IST
Accused duped over 7,300 investors under guise of high returns; laptops, phones seized
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KAKINADA: Sarpavaram police on Friday arrested Pulugu Moses, managing director of ALLMIGHTY GENESIS CAPITAL MANAGEMENT PRIVATE LIMITED, and the company's director, Sandhana Lalithambika, for allegedly cheating investors by promising high returns on deposits.
Addressing a press conference, Kakinada Additional Superintendent of Police M. Kishore Kumar said the accused floated the company and lured people into investing by assuring attractive interest rates. During the investigation, police seized six laptops, four mobile phones, a car, bonds and several incriminating documents from the accused.
According to the police, the company collected ₹98.66 crore through 7,342 investments. Of these, 3,633 investments remain active, accounting for ₹53.87 crore. While the company has paid ₹16.13 crore, including profits, to investors, an outstanding liability of ₹37.74 crore is yet to be cleared.
Police said further investigation is underway to ascertain the full extent of the alleged fraud and identify any additional victims or assets linked to the case. The accused were produced before the Kakinada Special Mobile Judicial First Class Magistrate Court and remanded to judicial custody.
According to the police, the company collected ₹98.66 crore through 7,342 investments. Of these, 3,633 investments remain active, accounting for ₹53.87 crore. While the company has paid ₹16.13 crore, including profits, to investors, an outstanding liability of ₹37.74 crore is yet to be cleared.
Police said further investigation is underway to ascertain the full extent of the alleged fraud and identify any additional victims or assets linked to the case. The accused were produced before the Kakinada Special Mobile Judicial First Class Magistrate Court and remanded to judicial custody.
( Source : Deccan Chronicle )
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