Cyberabad EOW Registers Fraud Case Against Samooha Projects Over ₹3.17 Crore Buyback Plot Scam

The Economic Offences Wing (EOW) of the Cyberabad Police has registered a case against Samooha Projects Private Limited over allegations of cheating investors by collecting crores of rupees under the guise of high-return buyback schemes and pre-launch plot investments.

The case has been registered against the company's Managing Partner, Mallikarjun Kurra, directors Anitha Nena, Anuroopa Kurra, and several others under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Telangana Protection of Depositors of Financial Establishments Act. An investigation is currently underway.

According to the complaint, the victims were approached by Sanku Venkateswara Rao, a representative of Samooha Projects, who allegedly persuaded them to invest in the company's project at Nandivanaparthy village in Yacharam mandal, promising substantial returns through a guaranteed buyback arrangement.

The complainants alleged that after the investment period expired, the company failed to honour its commitments. They further claimed that the cheques issued as security by the company were dishonoured when deposited in banks.

The victims alleged that the company collected over ₹3.17 crore from them. The complainants include Nandakumar Murari (₹1.62 crore), C. Venkatesham (₹50 lakh), Rajesh Moharana (₹15 lakh), and Srinivas Reddy Bandella (₹30 lakh).

Officials suspect that there may be several more victims who have not yet come forward. Based on the complaints, senior police officials directed the Cyberabad EOW to register a case and initiate a detailed investigation into the alleged investment fraud.