Hyderabad Woman Held in Rs 6.5 Crore Investment Scam

Authorities in Hyderabad have arrested a woman suspected of orchestrating an investment fraud scheme that allegedly netted Rs 6.5 crore from unsuspecting investors.

The suspect, identified as Baddam Jyothi, 48, was taken into custody by Vanasthalipuram police on Tuesday evening. Jyothi, who resides in Kamalanagar within the Vanasthalipuram jurisdiction, originally hails from Koheda village in Abdullapurmet mandal.

According to Vanasthalipuram Circle Inspector S. Ravibabu, the accused operated under the pretence of conducting a legitimate real estate enterprise. She enticed investors by offering returns of up to 10 percent on their capital. Additionally, Jyothi organised chit fund arrangements with people in her social circle.

The scheme operated smoothly in its initial stages. Jyothi honoured her commitments by disbursing promised profits and interest payments, which built confidence among participants. This reliability encouraged more individuals to commit their funds to her venture.

Police investigations reveal that between 2020 and the present, Jyothi accumulated over Rs 6.5 crore from nearly 10 victims residing in the Vanasthalipuram region. The arrangement unravelled when she ceased making repayments and became inaccessible to investors seeking their returns.

Realising they had been swindled, the aggrieved investors filed complaints with the police. Officers initiated a formal investigation, ultimately apprehending Jyothi on the evening of Tuesday.

During interrogation, the accused acknowledged collecting funds from multiple individuals using identical methods. The inquiry was conducted under the oversight of LB Nagar Zone Deputy Commissioner of Police B. Anuradha and Vanasthalipuram Assistant Commissioner of Police P. Kashireddy.

Following the investigation proceedings, Jyothi was produced before a magistrate, who ordered her remand in judicial custody.