Hyderabad: 3 held for duping investors of Rs 60 crore in real estate fraud
Hyderabad, May 18 -- The real estate sector in Hyderabad witnessed yet another scandal with Bharathi Lake View's fraudulent ventures now coming to light.
On May 17, 2024, the Economic Offences Wing (EOW) Police of Cyberabad said, three individuals were arrested in connection with a fraud involving pre-launch offers for residential apartments at "Bharathi Lake View" in Kompally, Medchal-Malkajgiri district.
The accused, charged with cheating and violations under the Telangana Protection of Depositors of Financial Establishments Act-1999, are Dupati Nagaraju, chairman of Bharathi Builders, Mulpury Shivarama Krishna, MD of Bharathi Builders, Thoddakula Narsimha Rao, also known as Ponnari, CEO of Bharathi Builders.
In 2021, Dupati Nagaraju...
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