Telangana,(R.Santosh): Madhapur Police registered cases against Raghu Yarlagadda & others in the cheating case in under protection of Depositors of Financial Establishments Act & Sec. 420, 406 & 506 of IPC.
Details of the case:
Raghu Yarlagadda formed the companies by name Swadhathri Infra Pvt. Ltd, Swadhathri Infra Projects and Swadhathri Realtors, situated at Plot.No.29, Zenath Residency, Srinagar Colony, Hyderabad and another office is situated in H.no:1-98/9/14/c Dwaraka Signture, Ayyappa Society, Madhapur. This company was registered in Registrar of Firms, Hyderabad. The accused has deployed 30 agents and 20 tele callers for collection of deposits from the innocent public and has launched 3 schemes to lure the public.

1st Scheme: Finance With High Returns:
He has taken deposits from the public and lured them with highest rate of returns i.e., whoever deposits Rs.1 lakh and more in the scheme, the company offers 9% returns per month for one year and will repay the principle amount within one year or he will pay the interest until the principle amount is paid.
Accordingly Raghu Yarlagadda with the help of the Gogulapati Srinivasa Babu and Manager Meenakshi and others have collected deposits of Rs.87 Crores from about 950 customers with the help of agents.

2nd Scheme : BUY BACK SCHEME on REAL ESTATE (Open Plots):
Raghu Yarlagadda introduced a BUY BACK SCHEME on open plots. The company makes agreements and buys the plots on bulk at lower cost with real estate venture owners. Then the company offers a scheme, where in the customer pays full amount and gets registration at once, the company will pay returns at a rate of 4% to 10 % Per Month for one year. After the completion of one year the Company will buy back the plot if the customers want to sell it.
Accordingly in this scheme they have collected deposits of Rs.42 Crores from about 300 customers with the help of agents.
3rd Scheme :REAL ESTATE ( Residential Flats):
Raghu Yarlagadda makes agreement with the builders by paying 40% amounts and block the flats. He lures the people by offering free registration and also without GST, if the purchaser pays 70% of total cost of the flat at a time. If any customer pays 50% to 60% of the total cost of the flat at once the he offers then that he will be paying Rs. 10,000/- Per Month until the customer take the position of the flat.
Accordingly in this scheme they have collected deposits of Rs.27 Crores from about 200 customers with the help of agents.

History of the Accused:
The master mind behind the cheating is Yarlagadda Raghu Babu who has completed MCA in the year 1999 and he worked in IBM as System Programmer in the year 2008-09 and as a Private Lecturer as in Amrutha Sai Engineering College in the year 2010-2011. Then he has worked as an agent in Real estate Business in Vijaywada and also he has done daily finance business with huge interest rates. As several cases were registered against the Finance business in Vijayawada he came to Hyderabad and launched this company in Hyderabad with the help of Srinivas babu and others.
Detail investigation is being done by Madhapur Police with the help of EOW Cyberabad.
The participants in the press meet were Cyberabad CP, Shri. V.C. Sajjanar, IPS., ADCP Madhapur Venkateshwarlu, EOW ADCP Praveen Kumar, ACP Madhapur Shyam Prasad Rao, Madhapur Inspector Ravindra Prasad and others participated.

APPEAL TO PUBLIC:-
Hence, Public are herewith cautioned not to join in any such illegal money circulation schemes by whatever by names called. Cyberabad Police reiterates the eternal fact of human life that there are no shortcuts to earn money or wealth.
 The general public is hereby advised not to fall prey to the dubious schemes with offers of easy and quick money.
 General public are advised to take the assistance of local police if they suspect any such activity involving the promise of easy and quick money.
 Women are particularly targeted by these con companies with all false claims and blatant lies and if they fall for such promises, they will exploited in many ways.
 People are cautioned that these companies approach them with various great looking schemes involve their kith & kin and ultimately exploit their social relations.