The Economic Offences Wing (EOW) of Hyderabad police arrested Jetendra Kumar Choubey, a retired Army personnel, for allegedly cheating multiple people out of Rs 4.48 crore through fraudulent investment schemes.
Choubey, a resident of Alwal and native of Bihar, was apprehended in New Delhi on May 21 and brought to Hyderabad. He had previously worked as an electrician at the Military College in Tirumalagiri, retiring in 2018.
Soon after retirement, he launched three fake firms—J K Enterprises, Soumya Sri Hospital, and Karthik Logistics—in Alwal. He allegedly used his ex-serviceman status to build trust among fellow veterans and civilians, promising a 5% monthly return on investments.
According to police, the scam began to unravel when Chandrawati Devi of Bollaram lodged a complaint. She had invested Rs 2 lakh, initially receiving returns before Choubey defaulted and disappeared by December 2024, shutting down all his firms.
After months in hiding, Choubey was traced and arrested by the Hyberabad police in New Delhi.
Authorities are urging citizens to remain vigilant. “Don’t fall for high-return promises without verifying company credentials. Report suspicious schemes to Cyberabad EOW or your local police,” officials advised.
