The Penamaluru police registered cases against three persons, including a woman, for allegedly deceiving people on the pretext of paying huge returns by investing in Telangana-based Swadhathri Infra Private Limited.
Following a complaint lodged by 13 persons that one V. Venkata Narayana and his wife, collected ₹2.77 crore promising them posh flats, plots and repay amount with high interest rates, the police registered cases on Tuesday.
However, Venkata Narayana in return complained that he invested the amount in Swadhathri Firm, which was allegedly running ponzi schemes. Venkata Narayana alleged that the owner of Swadhathri, Y. Raghu Babu, had cheated him.
A couple of days ago, the Telangana police arrested three persons of Swadhathri Infra Limited, for allegedly deceiving over 1,400 people by collecting ₹156 crore.
Penamaluru CI M. Satyanarayana said that cases have been registered against Venkata Narayana, his wife and Raghu and investigation is on.
