Hyderabad: Goshamahal Police arrested a man accused of cheating a Hyderabad resident of ₹77.50 lakh through a fake electronics business investment scheme.
Police identified the arrested accused as Chandan Singh alias Shamji alias Lalaji, 54, a home appliances businessman from Begum Bazar and originally from Rajasthan.
Two other accused persons identified as Pankaj Jain and Ajit Jayantilal Shah remained absconding. Police also seized a Samsung Z Fold 6 mobile phone allegedly used in the offence.
According to police, Mohammed Zakkeria Shaikh lodged a complaint on April 14, 2026. The complainant alleged that the accused lured him into an electronics business venture by promising high returns.
Investigators said the accused gained the complainant’s confidence by returning earlier investments with profits. They later convinced him to invest a larger amount with a promise of repayment within two days.
Police said the complainant transferred ₹77.50 lakh online to Ajit Trading in Mumbai. However, the accused allegedly disappeared afterwards and avoided repayment on various pretexts.
Goshamahal Police probe alleged Hawala links
Police said the accused later threatened the complainant with serious consequences. During the investigation, officers also found alleged links to Hawala transactions.
The arrested accused appeared before the court on May 21, 2026. The court later remanded him to judicial custody.
Goshamahal Police advised citizens to remain cautious while investing money in private business schemes and trading ventures offering unusually high returns within a short period.
Police warned that fraudsters often return small profits initially to gain trust before convincing victims to invest larger amounts.
The department urged citizens to report suspicious financial activities or cheating cases to the nearest police station or Dial 100.
Police carried out the arrest under the supervision of G. Chandra Mohan and K. Chandra Shekar Reddy.
𝐀𝐑𝐑𝐄𝐒𝐓 𝐎𝐅 𝐀𝐂𝐂𝐔𝐒𝐄𝐃 𝐏𝐄𝐑𝐒𝐎𝐍𝐒 𝐈𝐍𝐕𝐎𝐋𝐕𝐄𝐃 𝐈𝐍 𝐂𝐇𝐄𝐀𝐓𝐈𝐍𝐆, 𝐂𝐑𝐈𝐌𝐈𝐍𝐀𝐋 𝐁𝐑𝐄𝐀𝐂𝐇 𝐎𝐅 𝐓𝐑𝐔𝐒𝐓, 𝐂𝐎𝐍𝐒𝐏𝐈𝐑𝐀𝐂𝐘 𝐀𝐍𝐃 𝐂𝐑𝐈𝐌𝐈𝐍𝐀𝐋 𝐈𝐍𝐓𝐈𝐌𝐈𝐃𝐀𝐓𝐈𝐎𝐍
Goshamahal Police Station, Golconda Zone, Hyderabad, arrested one accused… pic.twitter.com/MNSYvd6XNg
— Hyderabad City Police (@hydcitypolice) May 23, 2026