Four arrested for ₹24 crore investment scam targeting 120 investors

A group of four people were arrested by the Cyberabad Economic Offences Wing for running a ₹24 crore investment scam in Hyderabad. They targeted 120 individuals by promising returns on investments in agriculture land with sandalwood plants. The accused lured victims with a buy back scheme, promising monthly payments and profit sharing. They provided fake documents as collateral and shut down the company after collecting money. The fraud was carried out by Squares and Yards Pvt Ltd and Ad Avenues Pvt Ltd from their offices in Kukatpally and Jubilee Hills. The accused are now facing legal action for their fraudulent activities.