Cyberabad EOW nabs couple in Rs 2.11 crore cheating scam
The arrested individuals have been identified as Panem Ujwala, apprehended in Kandukur, Nellore District, Andhra Pradesh, and Mahesh Panem, arrested in Bangalore. Both are natives of Kandukur and had previously resided in KPHB, Hyderabad.
According to police, the arrests followed a complaint filed on 25 June by Purimitla Rathna of SBI Colony, Bowrampet, Bachupally, leading to the registration of a case under relevant sections of cheating and Section 5 of the Telangana State Protection of Depositors of Financial Establishments (TSPDFE) Act.
Police reports indicate that the accused, operating through Christ Properties (OPC) Pvt Ltd at KPHB, enticed customers and investors under the guise of real estate investments. Panem Mahesh served as the director of the company, with his wife Panem Ujwala as the nominee. The couple specifically targeted retired employees, persuading them to invest in their company with the promise of lucrative returns, specifically a 2% monthly interest on their deposits.
Mahesh Panem also operated an Agarwood farmland business and is accused of collecting substantial sums from unsuspecting victims through this venture. Furthermore, the duo attracted people by promising to secure backdoor jobs through another firm, Christ Global Technologies Pvt Ltd, also located in KPHB. In total, they allegedly collected Rs 2.11 crore from five depositors through these various schemes, ultimately cheating the victims. The accused were also involved with other firms, namely Shine Solutions and Western Acqua.
K Prasad, Deputy Commissioner of Police (DCP), EOW, stated that the accused collected Rs 2.11 crore from five victims, luring them with the promise of attractive returns of 2% interest on deposited amounts. To build trust and provide a semblance of security, the accused issued promissory notes, bank cheques, and Memoranda of Understanding (MOUs) to their victims as collateral.
DCP Prasad further revealed, 'After collecting money from the victims, the accused paid monthly returns for a few months; however, they subsequently failed to fulfil their promise, closed their office, and absconded.'
Investigations have revealed that the accused are also involved in five additional cases reported across Bachupally, Kollur, Chandanagar, and Madhapur within the Cyberabad Commissionerate limits.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
5 minutes ago
- Time of India
Second notice by contractors over 90,000cr unpaid bills
Pune: The state unit of the Builders' Association of India (BAI) has issued a second legal notice to state govt, demanding immediate payment of over Rs 90,000 crore in dues to contractors. Tired of too many ads? go ad free now The association has given govt a 15-day ultimatum, warning that they would approach the Bombay High Court if their demands were not met. The reminder notice, dated July 2, was sent through BAI's legal counsel and addressed to the CM, chief secretary, additional chief secretary (home) and senior officials across 26 govt departments. The first notice, sent earlier this year, received no response. "Contractors have completed works and raised bills, which have remained upaid. Many have borrowed heavily from banks to complete govt projects and now face default notices. ..The financial stress is pushing several of our members to the brink of bankruptcy. We urge govt to release the dues without any delay," ," BAI said in a statement. The unpaid bills span a range of public works, from roads and bridges to irrigation and infrastructure projects, executed across state departments and local bodies. BAI members said as these dues remained unsettled, the state continued to float new tenders for infrastructure works worth thousand crores of rupees. —Nisha Nambiar
Time of India
5 minutes ago
- Time of India
Two years on, just 27 of 84 white-topped roads ready in Ahmedabad
Ahmedabad: Two years into a large-scale push for white-topped roads in Ahmedabad, the numbers paint a troubling picture: 84 roads sanctioned, Rs 298 crore budgeted, and only 27 roads completed. But as of July 4, less than one-third of these projects have reached completion. Work on 28 roads is currently underway, while 29 are still awaiting a start. Monsoon-related waterlogging and repeated digging of freshly built roads have added to citizen frustration. The Ahmedabad Municipal Corporation (AMC) had set out to redevelop 84 stretches, covering 61.15 km, using white-topping — a technique considered more durable than traditional asphalt. You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Of the total outlay, Rs 99.42 crore was approved for 22 roads, totalling 18.965 km in length — 21 of which have been completed. However, progress on the 62 roads sanctioned by AMC's zonal offices has been sluggish. Only five of those projects are complete, despite a cumulative budget of Rs 198.58 crore. Work is ongoing on 28 of these, while 29 remain untouched. Local councillors were asked to recommend which roads should be white-topped, but AMC officials said delays in preparing estimates meant several suggestions were excluded from the final white-topping project list. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Do you have a mouse? Play this for 1 minute and see why everyone is crazy about it. Play Game Undo Standing committee chairman Devang Dani reviewed the overall status on Wednesday. Dani said, "Instructions have been given to ensure work is completed on time." White topping has also faced pushback from residents in some areas. The raised level of such roads has worsened waterlogging during monsoons for lower-lying societies. There's also the issue of poor coordination. If underground lines aren't relocated in time, finished roads are dug up again. In one notable case, Gurukul Road in Memnagar — white-topped in 2023 — was excavated at least 10 times within a year due to water line leaks.
Time of India
5 minutes ago
- Time of India
Employee of ATM cash replenishment firm held for 2cr theft over 4 mths
Navi Mumbai: An employee of a private agency, tasked with replenishing automated teller machines (ATMs) of various banks, has been arrested for stealing Rs 1.91 crore between February 26 and June 30 this year. Tired of too many ads? go ad free now None of it has been recovered so far. The arrested man, Dhanraj Bhoir (27), a Panvel resident, worked for Hitachi Cash Management Services Pvt Ltd. The misappropriation of cash came to light when the agency carried out an internal audit during which it stumbled upon the discrepancy in cash refilled at ATMs at three locations in Navi Mumbai — Kalamboli, Kamothe, and Kharghar. The arrested employee emerged as the prime suspect as he was the custodian of the cash, the police said. The agency registered a criminal offence against him at Kalamboli police station on Thursday. He was arrested from his Panvel residence on the basis of the complaint. During interrogation in custody, the arrested employee confessed to the crime, the police claimed. They said that they are investigating if he had any partner in the crime. Giving details of how he pulled it off, the police said that it was this man's job to replenish currency notes at 16 ATMs of different banks. He used to refill the right amount at 15 of he 16 ATMs, but would "steal some cash" meant to filled in the last teller machine. For instance, if he had to fill Rs 4 lakh, he would put in only Rs 3 lakh, thus pocketing Rs 1 lakh, said a police officer. "In a little over four months, he stole Rs 1.91 crore," said senior inspector of Kalamboli police station, Rajendra Kote. "This way, he managed to avoid getting caught all this time," said the officer. A court on Friday sent him to police custody for five days.
