Businessman, 10 others lose Rs 2.96 crore in investment fraud in Hyderabad
HYDERABAD: A 41-year-old businessman and 10 others lost Rs 2.96 crore after allegedly investing in gold on the promise of high returns.
Businessman Akhil Kumar Jain said he had earlier lived at Gagan Mahal in Domalguda, where Parag Kumar Kaserwal was his neighbour and introduced himself as a software engineer and his wife, Anushri, as a law practitioner. They allegedly persuaded the complainant to invest by promising high returns. Trusting them, he invested Rs 21.45 lakh between April and July 2025.
