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Illegal Activities Of Money Circulation Scheme


Illegal Activities Of Money Circulation Scheme

Hyderabad, August 11(Hyderabad Deccan News): The Commissioner's Task Force, North Zone team on 11-08-2011 conducted a surprise raid on Gurudeva Infra Developers India Pvt Ltd, Street No.5, Habsiguda, Hyderabad. They were carrying out a high profile campaign and luring gullible public with a promise to make them rich over night through money circulation schemes and apprehended three accused. Seized One Toyota Fortune car, Four Laptops, Nine Computers, 10 Hard disks, Land documents, 95 Cell Phones, Rs. 11 Lakhs and Bank Accounts worth Rs. 1.9 Crores Frozen.
Names of the accused:
1) Nandi Srihari s/o N. Narayana, age. 47 yrs, Occ: Chaiman of Gurudeva Infra India Pvt Ltd, r/o 1-4-881, G-2, Chakkilam Ayesha Mansion, Gandhi Nagar, Hyderabad
2)Tekula Mukthi Raj s/o late T. Adivaiah @ Narsimha, age. 44 yrs, Occ: Director for Gurudeva Infra India Pvt Lte, r/o 1-6-174/A/B, Gangaputra Colony, Musheerabad, Hyderabad
3)Bairu Baburao s/o B. Ramanadham, age. 44 yrs, Occ: Director in Gurudeva Infra India Pvt Ltd, Habsiguda, Hyderabad, r/o 1-4-113, Bholakpur, Hyderabad /4, Sneha Nagar Colony, Street No.8, Habsiguda, Hyderabad
Details of the accused :-
Nandi Srihari is native of Hyderabad. He passed SSC. In the year 1990 he started Electro Plating industry in Musheerabad and closed the business due to losses in the year 1995. Again in the year 1997, he started a Garment industry in Musheerabad and closed the business in the year 1997 due to heavy losses. Then, in the year 2000 he entered real estate business.
Tekula Mukthi Raj is native of Hyderabad. He discontinued education after failing SSC. He did Fish business in Musheerabad till 1992 and closed due to heavy loss. Then he entered real estate business. He is purchasing and selling the open plots in different places in and around the city.
Bairu Babu Rao is native of Hyderabad. He did Diploma in Painting in Marredpally Government Polytechnic. He entered real estate business in the year 1991. He was selling the plots on commission basis in Sri Chandra and Sri Nidhi real estates.
Details of Case:
Due to recent scenario of separate of state issue in the state, there is real market is stagnated. There is no buying and selling of lands of plots with which many realtors, agents and other dependents in this business are facing severe financial problems.
In order to make easy money in an illegal way, the accused started multi level marketing / money circulation business under the guise of a real estate business and opened an office on the name of Gurudeva Infra Developers India Pvt Ltd at Habsiguda, Hyderabad. They lured gullible public especially of middle class by stating that, they could became rich over night through money circulation schemes through attractive captions and enrolled nearly 38000 members into multi level marketing.





2011-08-11




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