Hyderabad: Couple Arrested For Swindling Crores Promising High Interest Rates

HYDERABAD: A married couple were on Friday arrested for allegedly duping at least 20 people to the tune of Rs 13 crore after promising them high rate of interest on their deposits.

The husband and wife, claiming to be Directors of a financial company lured the public with false promise and collected about Rs 13 crores from 20 people between April 2019 and June 2020 and fled, a release from Hyderabad Police said.

Following a complaint by one of the depositors, a case under relevant sections of IPC and Telangana State Protection of Depositors Establishment Act 1999 was registered.

The duo was arrested on Friday.