Dairy Farm Scam Leaves Investors High and Dry

A couple was arrested for defrauding 41 individuals in Telangana of Rs nine crore through a fraudulent dairy farm investment scheme. They lured victims with promises of high monthly returns. The Economic Offence Wing busted the scam, and the couple was arrested after a victim complaint.

A fraudulent scheme involving a dairy farm business has resulted in the arrest of a couple by Cyberabad Police. The accused allegedly defrauded 41 individuals across Telangana, amassing Rs nine crore in fake investments with promises of high returns.

The Economic Offence Wing (EOW) of the police dismantled the racket and detained the couple on May 1, as reported by the police on Friday. The scam unraveled through advertisements placed in Telugu and English newspapers last June, under the title 'Business Offer', catching the eyes of potential investors with the allure of guaranteed monthly income.

Victims were shown a seemingly thriving farm in Ranga Reddy district, complete with dairy cattle and processing units. However, the business was shuttered in March when it failed to generate income. A formal complaint by conned investors led to the investigation and subsequent arrest of the culprits on Thursday.

(With inputs from agencies.)