ED Attaches ₹ 16.35 Crore in Cheating Case
Hyderabad: The Enforcement Directorate (ED) has seized five properties worth `16.35 crore in a cheating and money laundering case linked to office owners of Vivekanand BHEL Employees Mutual Aided Cooperative Home Building Society Ltd, who allegedly diverted members’ deposits for personal gain.
The properties are owned by builder Tribha Ventures Pvt. It consists of open land registered in its name. Ltd. represented by P. Govardhan Reddy on behalf of housing society chairman D. Srinivasa Rao, the ED said. The addition has been made under the Prevention of Money Laundering Act (PMLA), 2002.
The case stems from two FIRs registered by the Ramachandrapuram police under the Telangana Depositors Protection Act following complaints from members of the association. The complainants alleged cheating, breach of trust, diversion of deposits and misuse of funds collected for a housing project in Muthangi.
On July 1, 2025, the police filed a criminal complaint against the president, treasurer and managers of the association, as well as the builder, accusing them of diverting community funds and making illegal profits.
According to ED, officials of the association collected around Rs 18.09 crore from 316 members for allotment of residential plots and construction of houses. Instead of using the money for the project, they allegedly conspired with the builder to siphon the funds for personal enrichment.
ED investigation revealed that huge amounts were transferred from the society’s bank account to the personal accounts of the builder and other entities. The funds were withdrawn via self-check and routed to multiple third-party firms to generate cash, officials said.
The diverted money was allegedly used to fraudulently purchase land parcels registered in the name of the builder and the president of the association rather than the association. The ED said that the proceeds of crime detected in the case was ₹ 17.31 crore.
Doctors claim pictures were doctored and blackmailed on credit apps
Hyderabad: The 46-year-old Ayurvedic doctor alleged that representatives of two loan apps from which he had borrowed a small amount a few months ago forced him to pay Rs 64 lakh by threatening to publish morphed images showing him in indecent situations. Following the complaint, Hyderabad cybercrime police registered a case against the two loan apps.
According to police, the Ayurveda doctor borrowed small amounts from ‘Credit Radar’ and ‘Quick Funds’ after downloading apps on his smartphone. He claimed that although he repaid the loan, the practice management tried to collect double the amount from his bank accounts.
In his complaint to the police, the Ayurveda doctor said, “The loan period was seven days, but from the morning of the sixth day, I started receiving threatening calls and modified images. During the installation of the applications, they had given permission to access my photo gallery and contacts. The applications changed my photos to show them as porn images and sent them to me. They threatened to send the photos to my acquaintances.” he said.
Due to harassment from app administrators, the doctor said he and his friends made payments of around Rs 64.16 lakh through their bank accounts. Loan applications also put 1.19 lakh in SBI account on hold.
