Imposter Arrested in Massive Hyderabad Investment Fraud Case
The Enforcement Directorate (ED) arrested Kalyan Banerjee for impersonating and threatening officials in a Rs 5,900 crore investment fraud linked to Nowhera Shaik in Hyderabad. The ED attached Rs 428 crore in assets and plans to auction them. Banerjee claimed close ties with high-ranking officials to influence ED processes.
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The Enforcement Directorate (ED) has apprehended an individual allegedly masquerading and intimidating officials to obstruct their investigation into a colossal investment fraud case in Hyderabad, valued at over Rs 5,900 crore.
Kalyan Banerjee was detained on January 10 after raids on his Secunderabad premises, and he appeared before a special PMLA court in Nampally, Hyderabad, which remanded him to ED custody until January 23.
The case involves an investigation into Nowhera Shaik and others for defrauding the public of Rs 5,978 crore by promising returns exceeding 36% per annum. The ED uncovered that Shaik employed Banerjee, who attempted to sway ED officials and tamper with auction processes.
(With inputs from agencies.)
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