One held for posing as realtor, collecting cash

Hyderabad: The Rachakonda Cyber Crime sleuths have arrested the real estate fiscal fraudster named S Nagaraju (33) on Tuesday at Kothapet and being produced before the court.

The total amount of fraud committed by the fraudster is Rs 90.5 lakh, police recovered four mobile phones and three SIM cards from the accused possession.

According to police, on 14 December 2018, complainant B Srinivas Reddy (48), reported that the accused Nagaraju contacted him over phone impersonating himself introduced as P Saket and stated that a plot of 380 yards in Korremula village is ready for sale.

After few conversations, the rate of the plot is fixed for an amount of Rs 26 lakh. Later as per his request, the complainant deposited an amount of Rs 15 lakh in different times in different account numbers as provided by the fraudster.

After paying the amount, the accused stopped responding the complainant's phone calls, raising suspicion of the process, on complainant's enquiry it is found to be as fake and was thereby cheated. On receipt of the complaint, police registered a case under various sections and took up investigation.

During the investigation, it was found that accused Nagaraju operated real estate business from 2010 to 2017. In the year 2017, he shifted his both the real estate and share marketing business to Miryalaguda.

He frequently used to go to Goa to play Casino games and addicted to it. Due to betting, he incurred huge losses in his business. To overcome his financial crisis, he decided and started to cheat innocent people by impersonating as actual owner of the plots and got transferred lakhs of rupees into different bank accounts and spent the same for playing Casino games and his lavish living.

In a similar manner, the accused cheated and involved in cases registered in Meerpet and Chaitanyapuri police stations and eight similar cases of Cyber Crime police station, Rachakonda.