Hyderabad, Oct 8 (Maxim News): Hyderabad Central Crime Station (CCS) police have arrested a woman in connection with an alleged ₹4.5 crore property fraud case in IS Sadan.
The accused, identified as Asma Begum, was arrested on September 4. Police said other accused persons involved in the case are absconding.
The case was initially registered at the IS Sadan police station on July 11 following a complaint by Nayeem Banu. During the investigation, police found that several other people had allegedly been cheated.
The case was later transferred to the CCS and re-registered for further investigation.
Multiple Victims Allegedly Cheated Through Property Deals
According to police, Rashad-Ul-Khair, Mumtaz Begum and others were allegedly in possession of a ground-plus-two-floor building with a penthouse in Madannapet.
The accused allegedly entered into sale and mortgage agreements for the same portions of the property with multiple people. Police said some transactions involved physical possession, while others did not.
The accused allegedly concealed earlier transactions while entering into subsequent agreements with new victims.
Police said the accused also paid monthly rent to some victims for several months. This was allegedly done to build their confidence before collecting larger amounts.
Property brokers were allegedly offered attractive commissions to identify prospective buyers and advertise the properties.
So far, police have examined 54 victims in connection with the case. The alleged fraud took place between March 8, 2021, and June 22, 2026, with the total amount involved estimated at around ₹4.5 crore.
Police said Asma Begum lived on the third floor of the building and allegedly presented herself as a tenant in rental agreements shown to victims.
Investigators suspect that the other accused used these rental arrangements during mortgage transactions to gain the confidence of victims and induce them to part with their money.
Police are continuing their investigation to trace the absconding accused and determine the full extent of the alleged fraud.
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