Hyderabad Faces Economic Offences Worth Rs 9,675 crores

 Hyderabad: The city was duped of Rs 9,675 crores in various economic offences including cheating and land scams. For this, 245 people were arrested, according to the Hyderabad city police annual report for 2023.

The biggest of the scams was the Rs 1,000 crore alleged fraud pulled off by Sahiti Infra owned by Bhoodati Laxminarayana, his family and their associates. The case which was initially detected by the Hyderabad city police, is now taken over by the Enforcement Directorate.

In 93 land scam cases overall, 130 persons were duped of Rs 7,621 crore.

Hyderabad police commissioner K. Sreenivasa Reddy said that land scams were on the rise and the police was monitoring the cases closely and also focusing on training their teams to handle land-related issues.

• 775 cheated of Rs 559cr, 1,226 arrested.
• 113 accused made off with Rs 511cr via counterfeit currency and fake documents
• In 7 cases, Rs 505cr lost in general securities, documents scams
• Financial institutions duped of Rs 157cr
• Rs 184cr loot in 64 criminal breach of trust cases involving 346 accused