Two Private Firms’ Promoters Booked for Cheating
The firms allegedly acknowledged dues of over Rs 2.42 crore through official communications.
Hyderabad: Cyberabad Economic Offences Wing (EOW) registered a case against the promoters, directors and associates of two private firms on charges of allegedly running unauthorised investment schemes and cheating investors by promising unusually high returns.
According to the complaint, the accused lured investors through claims of operating an algorithm-based stock market trading business and organic farming ventures. Investors were assured guaranteed monthly dividends and annual returns ranging from 18 per cent to 48 per cent under various investment plans.
The complainant stated that he and his family invested about Rs 1.92 crore in the schemes between 2022 and 2023. The firms allegedly acknowledged dues of over Rs 2.42 crore through official communications. The complaint further alleged that several other investors had also deposited substantial amounts, taking the combined investment by the complainant, his family and other identified investors to about Rs 4.51 crore.
The accused continued to assure investors that payments were delayed due to a proposed Initial Public Offering (IPO) and related due diligence processes. However, according to the complaint, all monthly payouts stopped from October 2025, and the invested capital was not returned even after the expiry of the lock-in period. Based on the complaint, Cyberabad EOW registered a case and initiated an investigation.
