Crime Today News
Hyderabad: A retired Army personnel was arrested by the Economic Offences Wing (EOW) of Cyberabad police on Thursday, May 22, for allegedly cheating multiple people of Rs 4.48 crore in fake investment schemes.
The Economic Offences Wing (EOW) of Cyberabad police nabbed the accused, identified as Jetendra Kumar Choubey, a resident of Alwal and native of Bihar from New Delhi.
According to police, Choubey, who worked as an electrician at the Military College in Tirumalagiri before retiring in 2018, started three firms, J K Enterprises, Soumya Sri Hospital, and Karthik Logistics, in Alwal.
Using his background as an ex-serviceman to gain trust, he lured people, particularly other ex-servicemen, into investing in these ventures, promising 5 percent monthly returns.
The complainant, identified as Chandrawati Devi, of Bollaram, invested Rs two lakh in one of Choubey’s firms. Initially, Choubey paid monthly returns to investors, but defaulted after a few months. By December 2024, he shut down his firms and went into hiding. He was traced and arrested in New Delhi by the Cyberabad police on May 21.
Cyberabad police have urged citizens not to trust individuals or firms promising high returns without verification. “Always check the authenticity of a company before investing. Report any suspicious activity to the nearest police station or the Cyberabad EOW,” officials stated.
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