- AV Infracon Accused of Massive Investment Scam
Article Today, Hyderabad: A huge investment fraud involving over Rs. 500 crore has been exposed in Hyderabad. AV Infracon, a private company, allegedly trapped hundreds of investors by promising to double their money in a short period under a “buy-back policy.”
Victims Approach Cyberabad Police
The scam came to light after several victims filed complaints at the Cyberabad Commissionerate. They accused the company of luring them with false promises and later avoiding repayments.
Fraud Operated from Madhapur Office
According to police, Vijay Gogula, chairman of AV Infracon, operated the fraudulent scheme from the company’s Madhapur office. He convinced people that their investments would earn a 50% extra return within 18 months.
Land Deals Used to Gain Trust
The company claimed to have real estate ventures in Narayankhed, Yadagirigutta, and Budhera. Investors were told that if the promised returns failed, the company would transfer land to them instead.
Investors Cheated with False Promises
When investors approached the company after 18 months, Vijay Gogula allegedly postponed payments by introducing new project names. To escape pressure, he gave blank cheques but later disappeared.
Hundreds of Investors Suffer Losses
Reports suggest that over 500 people may have fallen victim to the scam. One investor, identified as Raju, is said to have lost Rs. 84 lakh in the scheme.
Police Register Case, Search Ongoing
The Madhapur police have registered a case against Vijay Gogula. Officials confirmed that they are searching for him and have started a full investigation into the financial fraud.
Public Cautioned Against Fraudulent Schemes
Police have warned the public to be careful about investment offers that guarantee unusually high returns. They advised people to verify company details before making any financial commitments.
