Hyderabad, Dec. 19 -- The Enforcement Directorate (ED) on Friday, December 19, arrested Kakarla Srinivas, Managing Director of Jayatri Infrastructures Private Limited, in connection with an alleged Rs 300 crore pre-launch real estate scam.

The ED booked a case based on the FIRs registered against Kakarla Srinivas early this year by the Hyderabad police.

The Srinivas collected large sums of money from home buyers by offering pre-launch schemes for residential projects. However, after collecting the funds, he allegedly failed to deliver the promised houses, thereby cheating buyers.

Srinivas arrested in Chennai, shifted to Hyderabad

ED officials arrested Srinivas in Chennai and shifted him to Hyderabad for further investigation. He had r...