Hyderabad fraud incidents trigger protests and arrests

Police in Hyderabad have registered a cheating case against a local couple accused of running a chit‑fund scheme that defrauded investors of roughly ₹5 crore. The couple allegedly fled after collecting money from residents of Budwel, prompting dozens of victims to gather outside their home to demand recovery of their savings.

In a separate investigation, the Hyderabad Economic Offences Wing arrested two men, Padamati Surender Reddy and Parvinder Singh Phing, for luring families into a QNet‑linked multi‑level marketing scam. The victims were induced to take loans from Bajaj Finance and invest about ₹28 lakh, only to discover the venture was a binary‑chain scheme. Both suspects were taken into custody in Pune and transferred to Hyderabad for judicial proceedings.