Couple Dupes 54 in ₹4.5 Cr Property Mortgage Fraud
The modus operandi was to build trust through fake rents and brokers: Reports
HYDERABAD: The Central Crime Station (CCS) Detective Department, Hyderabad, on Wednesday uncovered a massive property cheating racket in Madannapet that swindled 54 victims of ₹4.50 crore.
Police said a woman along with three associates ran a highly organised network that repeatedly mortgaged and sold the same portions of a multi‑storey property to multiple unsuspecting buyers. The mastermind couple and others are at large.
The modus operandi was to build trust through fake rents and brokers. Prime conspirator Rashad‑Ul‑Khair and his wife Mumtaz Begum (absconding) owned a residential building with a ground floor, two upper floors and a penthouse in Darab Jung Colony, Madannapet. Between 2021 and June 2026, the duo ran a systematic and deceptive operation, police said.
The couple executed overlapping agreements of sale and mortgage deeds — both with and without physical possession — for the same flats with dozens of individuals. Victims were misled into believing the property was a steady income generator. The arrested accused, Asma Begum, who resided in the penthouse, displayed fake tenants in rental agreements to trap victims, police said.
The scam came to light when a victim, Nayeem Banu, lodged a complaint at IS Sadan Police Station. During investigation, more victims stepped forward and the case was transferred to CCS based on the high value of the fraudulent amount.
Police produced Asma before court for judicial remand. Special teams have been formed to arrest Rashad‑Ul‑Khair and Mumtaz Begum.
