54 victims lose ₹4.5 crore in property fraud
Hyderabad police are investigating a major property fraud case where 54 victims were swindled out of ₹4.5 crore through multiple illegal sales and mortgage agreements for the same building. The prime suspects remain at large while one accomplice has been arrested.
Why it matters
The case highlights the risks of real estate fraud and the importance of due diligence in property transactions to prevent financial exploitation.
A single property in Madannapet was allegedly sold or mortgaged to multiple people through overlapping agreements, leaving at least 54 victims cheated of around ₹4.5 crore over five years, according to an investigation by the Hyderabad Central Crime Station (CCS).
Police said the prime accused, Rashad-Ul-Khair and Mumtaz Begum, are absconding, while Asma Begum, another accused in the case, was arrested on September 4 and remanded to judicial custody. Special teams have been formed to trace the two prime accused.
The case revolves around a ground-plus-two-floor building with a penthouse at Darab Jung Colony in Madannapet, which police said was in the possession of Rashad-Ul-Khair and Mumtaz Begum.
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