Hyderabad: A sexagenarian was lured into a business expansion plan floated by her son's tenant and was duped of 18.5 crore. The suspect, Anil Kumar, initially offered to buy the victim's multi-storied apartment complex at Nacharam. In exchange for the building, he offered her a share in the business.
Further, he made her a director in the new business he floated and obtained 18.5 crore loan from bank by mortgaging her apartment.But without her knowledge, Anil Kumar, along with his associates, diverted the loan amount to their personal accounts and indulged in fraudulent activities.
With non-payment of EMIs, the bank served legal notices asking her to clear dues and cautioned her about attaching her mortgaged apartment. The woman has now lodged a complaint with the Cyberabad police, who have launched a hunt to nab the suspect.
The woman, a retired state govt employee currently residing at Madhapur, became acquainted with Anil Kumar a couple of years ago. He paid her 5 lakh as advance to buy the Nacharam apartment and bought some time to pay the complete amount and execute a sale deed. He then claimed that he was not able to arrange the amount on time and proposed to offer her a 93% share in their new business — Silk Saree Malls.
Accordingly, her property was mortgaged, and she was also made a director and designated partner without any role in the management of the companies and a 93% share as promised. But later, she found that her shares in the company were reduced from 93% to 25% without any information or board resolution, and also the suspect used the loan amount for other business expansion purposes.
When she resigned from board membership and questioned the accused on the fund diversion, they threatened her, saying that they would not release her personal guarantee from the bank and would make the loan account a non-performing asset (NPA). Subsequently, the bank issued her legal notices regarding irregularities in the loan accounts.