In a shocking turn of events, a couple allegedly involved in fraudulent activities, alongside their company, ‘Jevi Builders and Infrastructure,’ have come under fire in Uppal, Hyderabad.
Scamming Millions: The Inside Story
The accused couple, Veluri Lakshminarayana (MD) and Veluri Jyothi (CEO), reportedly amassed fortunes worth crores by duping unsuspecting individuals. The victims, who were lured into investing in their organization, have now filed complaints with the Uppal police.
Luring Investors: The Modus Operandi
Operating under the guise of a stable real estate venture, the accused set up their operations initially in Boduppal and later expanded to Medipally before relocating to Uppal. With enticing schemes and promises of hefty returns, they managed to swindle significant sums from investors. Offering returns of Rs. 20 lakh every 15 days on a mere investment of Rs. 10 lakhs, they successfully gained the trust of many.
Expanding the Web: Agents and Victims
The fraud didn’t stop there. The accused roped in agents, totaling 500, to lure more individuals into their scheme. With promises of high commissions, these agents actively recruited new investors. The allure of quick and substantial returns attracted even more victims, resulting in a chain of exploitation.
Facing the Consequences: Legal Action Ensues
Despite the initial success in drawing in investors, the scam eventually caught the attention of authorities. With complaints pouring in and victims demanding justice, the Uppal police swung into action. A total of 10 complaints were registered, with the accused facing allegations of defrauding investors to the tune of Rs. 2.50 crores.
The Aftermath: Seeking Accountability
As investigations unfold, it’s becoming clear that the number of victims and the amount embezzled are staggering. While the accused may have thought they could evade accountability, the relentless pursuit of justice by law enforcement agencies ensures that they will be held answerable for their actions.
The duo, associated with a construction and infrastructure company, allegedly defrauded the police after collecting substantial sums from investors. Under the guise of lucrative schemes, they amassed considerable wealth, leaving investors in financial distress.
Modus Operandi
Operating under the banner of “Jeevi Builders and Infrastructure,” the couple transitioned from Boduppal and Medipally to Uppal. With enticing schemes, promising hefty returns, they attracted investments from numerous individuals. With each investment of Rs. 10 lakhs, investors were promised a monthly interest of Rs. 20,000 along with the principal amount.
Expanding the Web
To expand their operations, the couple recruited agents who, in turn, attracted more investors. Over 500 agents facilitated the inclusion of new members into the schemes, exponentially increasing the number of victims.
Legal Ramifications
Following complaints, the police launched an investigation, resulting in ten individuals filing formal complaints against the couple. Allegedly swindling a total of Rs. 2.5 crores, the couple now faces serious legal repercussions.
In conclusion, the unfolding saga of ‘Jevi Builders and Infrastructure’ serves as a stark reminder of the importance of due diligence and vigilance while investing. It also underscores the critical role of law enforcement in safeguarding the interests of citizens and upholding justice in society.