Hyderabad - 30 bank accounts of DFI frozen over Rs 514-cr investment fraud
Frozen about thirty bank accounts of the trust and launched businesses are the results of the Central Crime Station (CCS) of Hyderabad's investigation into the Rs 514-crore investment scam committed by the Dhanwantari Foundation international Trust.
In december 2023, a complaint was filed against DFI, its director Dr. P kamalakar Sharma, and other individuals for allegedly defrauding over 4000 victims, primarily elderly Brahmin individuals, and amassing approximately Rs 514 crores from them.
CCS hyderabad stated in an official statement released on Monday, July 8, that the victims were seduced by the trust's promise of substantial returns on their investments within a predetermined timeframe.
In december 2023, a complaint was filed against DFI, its director Dr. P kamalakar Sharma, and other individuals for allegedly defrauding over 4000 victims, primarily elderly Brahmin individuals, and amassing approximately Rs 514 crores from them.
CCS hyderabad stated in an official statement released on Monday, July 8, that the victims were seduced by the trust's promise of substantial returns on their investments within a predetermined timeframe.
“CCS hyderabad has till now identified properties acquired by DFI and its companies at DFI Hospital premises at Amberpet, in Ankapalli, Vizag, in Gannavaram, Vijayawada, in Siddipet, and in Midjil nearly about 450 Acres of land and also commercial space about 3000 Square yards in the heart of the hyderabad City and succeeded in obtaining GOs in four properties and filed affidavits before the Hon’ble MSJ court for absolute orders,” the statement read.
The procedure is ongoing with the government for the other two properties, and a forensic audit has also been carried out.