Hyderabad: Police from the Cyberabad Economic Offences Wing have arrested two people for running a fake investment scheme that cheated 41 investors out of nearly ₹9 crore.
The suspects, Vemula Subba Rao and Vemula Kumari, live in Kokapet village, Ranga Reddy district. They own Kondapalli Dairy Farm Pvt Ltd, located in Nagireddyguda village, near Moinabad.
In June 2022, the duo placed newspaper ads under the titles “Business Offer” and “Need Good Investors for My Well-Running Dairy Farm.” The ads claimed the farm had been earning a fixed monthly income for the past 16 years. They also promised returns of ₹2 to ₹5 lakh per month to potential investors.
Many people responded to the ad by calling the number provided. A third person answered these calls and spoke convincingly about the dairy farm. He claimed high profits and guaranteed monthly returns to lure people into investing.
Interested individuals were invited to visit the farm, where they were shown buffaloes, cows, and a milk processing unit. The setup was staged to look like a thriving business. The accused told visitors they were expanding and needed trustworthy investors.
Convinced by the display and promises, 41 people invested large sums of money, expecting high monthly returns. However, the returns never came.
Police have now exposed the scam and arrested Subba Rao and Kumari. Authorities are warning the public not to fall for such fraudulent investment schemes. They advise people to carefully verify any business before investing their money.
