Woman held in Hyderabad for cheating man of Rs.3.06 cr

Economic Offences Wing (EOW) Deputy Commissioner of Police, K. Prasad, said the arrested woman has been identified as Panuganti Indira Devi Reddy alias Indira Devi Reddy (29), of Nallagandla in Sherilingampally. The police seized two cars and a mobile phone from her.

Prasad said the woman was also involved in a similar offence that took place at Madhapur police station limits. She took Rs.1 crore from the complainant of the case with the same modus operandi. He explained that the accused introduced herself as NRI, currently running a beauty parlour and a food industry in the name of Devi Foods at Nagole.

She claimed fake ownership of the several properties in gated community apartments in Madhapur, Gachibowli and Narsingi and an individual apartment at Nagole. She took Rs.3.6 crore from the complainant S. Sathyanarayana of Madinaguda on pretext of financial assistance and high returns.

Apart from taking the complainant's two cars and mortgaging them with someone, Devi introduced her two friends as police officers and bought two costly phones with the complainant’s money. When the complainant came to know about the accused, he asked her to return his money and vehicles. But she did not respond, threatened and blackmailed him stating that she will implicate him in false cases.

Based on Sathyanarayana’s complaint, the police booked a case against Devi and arrested her. In an advisory issued to the public, the police asked them to be careful of fraudsters and not to give money to anybody without knowing them properly in the name of high returns. The department is committed to prosecuting the fraudsters and ensuring justice to victims.