Hyderabad Duo Fakes Robbery to Steal ₹17 Lakh from Chit Fund Company, Arrested
Hyderabad, June 26 (Maxim News): In a dramatic turn of events, Domalguda Police arrested two youngsters for allegedly faking a robbery to misappropriate ₹17 lakh, exposing a failed attempt to outsmart both their employer and the police.
The accused were identified as Jethin Raj Yadav (21) and Souda Abhilash (18), both residents of Malakpet. According to officials, Raj had been working with a private chit fund company in Hyderabad for the past six months.
How the Plan Unfolded
On Wednesday, Raj was entrusted by his manager to collect ₹17 lakh from a client named Pankaj in Jubilee Hills. After collecting the money, Raj failed to return to his office. Instead, he contacted his employer and later filed a police complaint, claiming that he lost the cash in a robbery after a road accident near Tank Bund.
However, when police reviewed CCTV footage of the area, they found no evidence of Raj carrying a cash bag at the time of the incident. This immediately raised suspicions.
Further investigation revealed that Raj had conspired with his friend Abhilash to fake the robbery. After collecting the cash, Raj secretly handed it over to Abhilash before staging the accident. The plan was to mislead the company and make off with the cash.
Confession and Recovery
“During questioning, Raj broke down and confessed to the staged robbery. Based on the leads, we recovered the stolen ₹17 lakh from both accused,” said K. Shilpavalli, DCP (Central Zone).
Case Registered, Accused Remanded
The duo was arrested and remanded to judicial custody. Police warned that strict legal action would be taken against those attempting to mislead law enforcement agencies with fabricated stories.
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