Hyderabad: Family Arrested for Duping Investors
Hyderabad: Hyderabad CCS police on Tuesday arrested a family that has scammed about 30 investors in the health and real estate sectors of about Rs 10.86 crore.
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Police arrested Shivaiah, his wife Swarna Latha, and his son Jashwanth. Shivaiah promotes himself through YouTube channels named Mimamsa and Reboot, offering motivational speeches and training sessions and promising high returns on investments in real estate.
Police said the family charged participants up to Rs 1 lakh rupees each. He convinced attendees to invest in his schemes, promising significant profits and providing post-dated cheques, promissory notes, and MOUs as security from his companies Mimamsa, Realty Aura Pvt. Ltd, and Jyoshika Investors Club.
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Multiple cases were registered against Shivaiah, who claimed to be a naturopathy doctor and NLP trainer.
Shivaiah was previously in judicial custody for 88 days, and his accounts and properties have been seized earlier.
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