Funds were withdrawn through self-cheques and routed through multiple third-party firms to generate cash, officials said
Hyderabad: The Enforcement Directorate (ED) has attached five properties worth `16.35 crore in a cheating and money laundering case linked to the office-bearers of Vivekanand BHEL Employees Mutually Aided Cooperative House Building Society Ltd, who allegedly diverted members’ deposits for personal gain.
The properties comprise open land registered in the name of builder Tribha Ventures Pvt. Ltd, represented by P. Govardhan Reddy, and in the name of D. Srinivasa Rao, president of the housing society, the ED said. The attachment was made under the Prevention of Money Laundering Act (PMLA), 2002.
The case stems from two FIRs registered by the Ramachandrapuram police under the Telangana Depositors Protection Act, following complaints from society members. The complainants alleged cheating, criminal breach of trust, diversion of deposits and misappropriation of funds collected for a housing project at Muthangi.
Police filed a chargesheet on July 1, 2025, against the society’s president, treasurer and directors, along with the builder, accusing them of diverting society funds and gaining unlawfully.
According to the ED, the society’s office-bearers collected about `18.09 crore from 316 members for allotment of residential plots and construction of houses. Instead of using the money for the project, they allegedly conspired with the builder to siphon off the funds for personal enrichment.
The ED investigation found that large amounts were transferred from the society’s bank account to the personal accounts of the builder and other entities. Funds were withdrawn through self-cheques and routed through multiple third-party firms to generate cash, officials said.
The diverted money was allegedly used to purchase land parcels, which were fraudulently registered in the names of the builder and the society president instead of the society. The ED said the proceeds of crime identified in the case amount to `17.31 crore.
Doctors allege loan apps of morphing pictures, blackmailing
Hyderabad: A 46-year-old Ayurvedic doctor has alleged that the representatives of two loan apps, from where he had borrowed a small amount of money a few months ago, had forced him to pay `64 lakh by threatening to release morphed pictures showing him in compromising situations. Following the complaint, the Hyderabad cybercrime police registered cases against two loan apps.
According to the police, the Ayurvedic doctor borrowed small amounts from ‘Loan Radar’ and ‘Quick Funds’, after downloading the apps on his smartphone. Though he repaid the loan, the app managements attempted to recover double the amount from his bank accounts, he alleged.
"The loan tenure was seven days, but I started receiving threatening calls and morphed images from the morning of the sixth day. During the installation of the apps, they had taken permission to access my photo gallery and contacts. The apps morphed my photos to show them as porn pictures and sent them to me. They threatened that they would send the photos to my contacts," the Ayurvedic doctor said in his police complaint.
Due to the harassment of the app managements, the doctor said he had paid around `64.16 lakh through his and his friends’ bank accounts. The loan apps have also put `1.19 lakh in his SBI account on hold.
