In a significant development in a massive investment scam, Telangana’s Crime Investigation Department (CID) and state police on Sunday arrested two more suspects—Sushma Raj and Rabindra Prasad Singh—from Bhojpur, Bihar. The duo is allegedly linked to a fraudulent scheme that cheated nearly 4,000 investors across India, involving a staggering Rs792 crore.
The accused were apprehended from an apartment in Danapur, where authorities recovered over Rs8.30 lakh in cash, along with six passports, 10 mobile phones, 21 credit cards, 16 ID cards, and gold and diamond jewellery. The seizure also included three bank passbooks and eight luxury watches.
According to Prashant Kumar Bhardwaj, SHO of Danapur police station, the private company at the center of the scam promised investors returns of up to 24%. “Initially, they paid returns to gain trust, but abruptly stopped all payments by January 2025. On February 10, the company shut down its Telangana office without notice,” he stated.
Following the closure, a formal FIR was lodged on February 11 in Telangana. Sushma Raj and Singh were traced and arrested soon after. Both are residents of Tenduni village in Bhojpur district.
After completing all necessary legal formalities, the accused were handed over to Telangana Police for further investigation.
