The Central Crime Station (CCS) Police in Hyderabad have arrested Mukesh Chowdhary (33) and Amit Kumar Pilania (31) for allegedly masterminding a multi-crore investment fraud tied to a fake online grocery business named Urban Market.
The two accused lured unsuspecting individuals to invest in the supposed grocery platform by promising high returns under the pretense of a legitimate and profitable business model. Investigations revealed that the total amount siphoned from investors amounted to a staggering Rs24.36 crore.
Police reports indicate that the fraud was carefully planned, with the perpetrators building an image of a functional e-commerce platform to gain trust and attract large-scale investments.
Authorities arrested the duo after complaints from multiple victims surfaced, revealing a well-organized Ponzi-style operation masked as a startup venture.
Both accused are now in custody as further investigations continue to trace the funds and identify additional accomplices or victims in the growing case.
