Zaheerabad: Zaheerabad Town Police registered two cases and arrested four persons for allegedly cheating members of the public of ₹19 crore 15 lakh by luring them with promises of high returns in the name of Nayke Traders.

According to the police, the accused allegedly induced people to invest large amounts of money in gold and other investment schemes by promising high returns. They later allegedly committed fraud involving crores of rupees. Police arrested all four accused and sent them to Jail.

Identity of the Arrested Accused:

M. Sheshu Vardhana Reddy, son of Chinna Eshwara Reddy, aged 29.

Baggi Ravindra Babu, son of Venkatacalam, aged 45.

Sushmitha Pindi, daughter of Venkateshwara Swamy Pindi, aged 29.

Devala Jagadish, son of Lakshmi Narayana, aged 36.

Speaking to the media, Zaheerabad Town Circle Inspector of Police R. Ravi explained the details of the cases. He appealed to the public not to fall prey to individuals who collect money in the name of investments by promising unusually high profits or interest.

CI R. Ravi advised anyone who suspects such a fraud or has fallen victim to a financial scam to immediately approach the police and lodge a complaint. He urged the public to obtain complete information before making any investment and to remain cautious about schemes offering unusually high returns.