The Economic Offences Wing (EOW) of Cyberabad police arrested Thimmiri Samuel, Director of M/s AV Infracon Pvt. Ltd., in connection with a large-scale investment fraud amounting to over ₹25 crore.
He was arrested near his house at Banjara Hills on Wednesday. This comes after the company’s Managing Director Gogula Lakshmi Vijaya Kumar was taken into custody in June and remanded to judicial custody.
Police said that the two, along with some others, allegedly lured people into investing in their ventures, M/s AV Infracon Pvt. Ltd. and M/s AV Organo Farms Pvt. Ltd. through false promises under the guise of lucrative real estate returns. At least 150 people were defrauded of an estimated amount of ₹20-₹25 crore.
Investigations revealed that the duo had floated a series of deceptive schemes starting from 2021, which included investment plans, buy-back arrangements, and pre-launch housing offers. These schemes promised high returns and were backed by forged legal documentation, including Agreements of Sale, Memoranda of Understanding, and Sale Deeds, intended to mislead depositors into believing their investments were secure.
In one scheme, depositors were promised 50% returns on investments of ₹10 lakh after a year. In another, land parcels were registered in the investors’ names with a buy-back assurance of 50% extra on the deposit. The third scheme involved offering two-bedroom flats in high-rise or semi-gated projects at significantly reduced rates, with the promise of handover within two years.
However, according to Cyberabad police, the lands either did not exist or were not properly registered. The accused failed to return the promised funds or deliver on the properties. Ventures were floated across multiple locations in and around Hyderabad, including Morigi in Sangareddy district, Komshetpally in Vikarabad, Pembarthy in Janagon, Kondapur in Ghatkesar, and several areas in Keesara and Medchal-Malkajgiri districts.
The funds collected from victims were allegedly diverted to other undisclosed investments by the accused. Investigations are on to trace the misappropriated money and refund the depositors.
A case has been registered under various sections of the Bharatiya Nyaya Sanhita, 2023, and Section 5 of the Telangana Protection of Depositors of Financial Establishments Act 1999.
Cyberabad Police have urged citizens to remain vigilant and to verify the legitimacy of investment offers, particularly those involving pre-launch and buy-back promises. Officials advised prospective investors to cross-check approvals and authenticity with relevant regulatory bodies such as GHMC, HMDA, RERA, and DTCP before entering into any financial agreements.
