Hyderabad: Two held for duping public

Hyderabad: A three-member gang duped dozens of investors, including many NRIs, of Rs 20 crore promising huge returns. 

Shaik Irshad Mohammed, K. Ravi Kiran and Hima Bindu Sivangi duped people by asking them to invest in their firms Xlent Management Service and Orbit Solutions promising 30 per cent profit. 

Irshad misused the funds and fled to Australia. CCS police has now arrested him following complaints from victims.

Ravi Kiran was earlier arrested by CCS police, but Hima Bindu is still absconding. 

The 34-year-old Irshad, a resident of Masab Tank, and his wife Hima Bindu had been collecting investments from NRIs since October 2013.

Ravi Kiran also joined them and they floated many companies in Hyderabad and abroad. 

“They registered companies like Florem Studio Pvt Ltd, IEE Coffee House Bistro, Kickstarter Kitchen, Sand Fields Enterprise and Waffle House in India and abroad. Many investors flocked in to put in money believing the huge profits promised,” said ACP G. Jogaiah of CCS.  

“Initially, the investors were given the promised returns. But, later the trio stopped giving money. The suspects used the money for their personal needs,” said another senior official. 

Police found that Irshad purchased flats, luxury cars and travelled abroad using the money. 

“When he came to know that investors were planning to lodge a complaint against him he fled to Australia in June 2016. But, the relatives of NRIs identified him and he was forced to return to India,” said the officer. 

After coming back to India in November, Irshad evaded police for a while and then he surrendered in court. The police later took him into custody.

Earlier, an investor named Mohammed Afroz from Mallepally, had filed a complaint with the police alleging that his investment of Rs 8 crore was misused by the trio. Based on the complaint, the police first arrested Ravi Kiran. The cops have now launched a manhunt for Irshad’s wife Hima Bindu who is absconding.