The Economic Offenses Wing (EOW) Police of Cyberabad arrested an accused Thimmiri Samuel, Director of M/s AV Infracon Private Limited in fraud and cheating case on Wednesday near his residence at Banjara Hills. He along with his Managing Director Gogula Lakshmi Vijaya Kumar and others induced and cheated innocent public to invest and deposit in Investment, Prelaunch and Buy back schemes with a false promise to give high returns in M/s AV Infracon Private Limited and M/s AV Organo farms Private Limited.

Police arrested Thimmiri Samuel in connection with a massive financial fraud amounting to approximately Rs 20 to 25 crore, orchestrated through M/s AV Infracon Private Limited and M/s AV Organo Farms Private Limited and its associated entities.

The accused lured the innocent victims, depositors by making false promises to give high returns on their deposits through above Schemes under the guise of real estate investment. As of now, the total amount collected from around 150 victims and depositors is approximately Rs 20 to 25 crore.