One held for cheating NRIs of huge money
Hyderabad, Dec.11 : The City CCS police took Shaik Irshad Mohammed, 34, into custody from Chanchalguda Central Prison as he had surrendered before the court on December 5 in connection with cases filed against him under Sections 420, 406 read with 34 IPC and the court had remanded him to judicial custody. The police took the accused into custody on Thursday last for three days.
During interrogation, the accused admitted having cheated many persons, mostly NRIs, on the pretext of investment in his firms Xlent Management Service & Orbit Solutions to the tune of Rs.20 crore. Police also seized copies of 34 agreements from his residence.
Complainant Mohammed Afroz of Mallepally, and his associates Mohd. Imroz and Mohd. Rafi Ahmed Shareef lodged a joint complaint with S.R. Nagar police on September 4 stating that Shaik Irshad Mohammed, K. Ravi Kiran, Hima Bindu Sivangi have collected huge sums from them and others to a tune of Rs 20 crore, including their amount of Rs 8.05 crore from October 2013 to February 2016 by promising huge returns for the investment in Xient Management Services & Messrs Orbit Solutions.
Later, the gang of four transferred the funds to various companies. Initially, the accused had paid some profits/returns to the investors and started avoiding them later by stating that the firms/companies were unable to pay. However, they promised to return the invested amounts to the investors, but failed. They purchased flats, cars and made foreign trips with the investments. On coming to know that the investors were planning to lodge a complaint against him, Shaik Irshad Mohammed fled to Australia in June. However, the relatives of the investors staying in Australia identified the accused. Shaik Irshad Mohammed returned home last month and started avoiding the investors as well as the CCS police.
The case was being investigated by G. Jogaiah, ACP Division E with the help of his team members S.I. N. Suresh Kumar, HCs Rambabu, S. Nageswara Rao, Syed Shabbir Hussain and PCs Alfred Thomas, and D. Srinivas.