Cyberabad CP turn over cheques to Karakkaya fraudulence sufferers

Hyderabad: Cyberabad Police Commissioner Stephen Raveendra on Sunday turned over cheques to 12 sufferers of the ‘Karakkaya Business disloyalty situation’ in which numerous individuals were deceived on the pretense of massive revenues.

Speaking on the celebration, the Commissioner stated, “After identifying 281 victims of the Karakkaya fraud, the Cyberabad Police have started paying them back their amount through court approval.”

The firm in 2018, tempted the sufferers after guaranteeing greater rois in business. The monitoring of the firm persuaded its financiers to buy a kg of Karakkaya at Rs 1,000 as well as later on return it after making powder of it to be paid Rs 1300 per kg.

According to the police authorities, the firm gathered virtually Rs 3.75 crore from 423 clients as well as deceived them. A situation was signed up as well as the homes of the firm were additionally confiscated as well as auctioned.