Hyderabad Real Estate Scam 2025: Investors Lose Rs 7.66 Cr in Multi-Crore Scam
Hyderabad: The CCS Police have cracked a major real estate investment scam, registering a case against a couple and eight others for allegedly duping investors of Rs 7.66 crore.
Fake Company Used to Lure Investors
The prime accused, Ahmed Sohel Harmoon alias Ahmed Sohel, along with his wife Sheeba Arshad, residents of Kalapathar, reportedly floated a company named Classic Homes India Pvt. Ltd. at Somajiguda. Launched in 2022, the company claimed to operate in home décor, interiors, and construction businesses.
Agents Appointed, Big Promises Made
To attract investors, Sohel allegedly appointed multiple agents and portrayed himself as a businessman with ties to multinational companies and political circles. He promised high returns on investments and initially made payouts on time to build trust.
Investor Loses Crores
A resident of Nawab Sahab Kunta reportedly invested Rs 7.66 crore in several installments. In January this year, Sohel assured full repayment within six months. However, neither the principal amount nor the promised profits were returned after the deadline.
Scam Exposed
Further investigation revealed that Sohel and his associates had set up offices across three commissionerates under the guise of real estate operations, collecting money from multiple investors. Realizing the scale of the fraud, the victim approached CCS police.
Case Registered, Investigation Underway
Following the complaint, CCS police registered a case against Ahmed Sohel Harmoon, Sheeba Arshad, Mahmmad Iflekar Sharif, Shabana, K. Vijaya Nikhila, Fareed Bhan, Mahmmad Intiyaz, Suraj Thakre, Khaja Ahwar Arshad, and Ratna Babu. A detailed investigation into this multi-crore scam is currently underway, authorities said.
