Hyderabad biz man and BJP leader booked over Rs 24.53 cr NRI fraud

Hyderabad police have registered a case against a local businessman and Bharatiya Janata Party leader for allegedly defrauding non-resident Indians of Rs 24.53 crore. The accused has been identified as the BJP's OBC Morcha state general secretary.

The complaint was filed by an NRI who alleged that the accused promised high returns on investments in real estate and other ventures. The complainant said he and other NRIs were lured with fake documents and assurances.

Police said the accused collected large sums from multiple NRIs over several years but failed to deliver on the promised returns. When investors demanded their money back, the accused allegedly threatened them and avoided repayment.

A case has been registered under sections of cheating, criminal breach of trust, and fraud. Investigations are ongoing to trace the money trail and identify other possible victims.

The BJP leader has denied the allegations, calling them politically motivated. No arrest has been made so far.