Hyderabad, May 22 -- A retired Army personnel was arrested by the Economic Offences Wing (EOW) of Cyberabad police on Thursday, May 22, for allegedly cheating multiple people of Rs 4.48 crore in fake investment schemes.

The Economic Offences Wing (EOW) of Cyberabad police nabbed the accused, identified as Jetendra Kumar Choubey, a resident of Alwal and native of Bihar from New Delhi.

According to police, Choubey, who worked as an electrician at the Military College in Tirumalagiri before retiring in 2018, started three firms, J K Enterprises, Soumya Sri Hospital, and Karthik Logistics, in Alwal.

Using his background as an ex-serviceman to gain trust, he lured people, particularly other ex-servicemen, into investing in these ventures, p...