IIT Dropouts Among 9, Who Scammed People For About Rs.30 Crores

In an incident which took place in Malakpet, Hyderabad, Nine people were arrested by the Cyberabad Police. The Nine were involved in a Multi-level scam duping people of money. Amongst the nine are four IIT Kharagpur Dropouts holding falsely attained positions.

The Nine Members Who were arrested in Hyderabad


The nine had created a company named ‘ Pro Healthywayz International ‘, in the Malakpet area of Hyderabad. The office was also put up just to make the scam look official. They were involved in a fraudulent business in the name of a multi-marketing company.

A complaint was filed against the company in Cyberabad Station under Shamirpet section. The Cyberabad Commissioner of Police V.C. Sajjanar looked at and investigated the background of the company through various sources. The company was then approached by The Economic Offences Wing of Cyberabad officially and was booked under the sections of relevancy. Which are under the prize chits and Money Circulation Schemes (Banning) Act, 1978. The members were remanded to judicial custody, for producing them in the court.


How their fooling went

The company was involved in duping around 40,000 persons. They are termed to as Distributors of the firm after following a process. The forty thousand distributors are spread all over in Telangana and Andhra Pradesh. As per the complaint received by the Commissioner, he was reported giving details of getting enrolled in the company.

For the said enrolment procedure, the distributor has to pay a minimum amount of Rs.4,000 as an Admission Fee. Furthermore, the target turned distributor who got voluntarily robbed of four thousand would in turn target other youth, especially unemployed, and innocent retired people.

The Company “Delegates”

A 23-year-old CEO, named Mohammed Rizwan Younus of Dabeerpur, along with his two directors. That including Younus’ father Mohammed Ishaq (61) who is a retired employee, and Bhattu Saikonda Harshavardhan Raju (27), shamefully an IIT dropout and a native of Kurnool.

The “esteemed” now arrested Distributors, Pappala Sai Charan (24) of Visakhapatnam; Vankudothu Venu Naik (26) of Warangal; Bhukya Anil Kumar (26) from Warangal the regretful dropouts from IIT-Kharagpur. Others are Aluru Naresh (27) from Kurnool; Yerraganti Sathya Manikanta (24) of Visakhapatnam and Konda Srinivasulu (27) from Kurnool.

All of their bank accounts were frozen which had Rs.40 Lakhs all together in them. Prior to this establishment, the so-called CEO of this deceitful company worked for two other companies in Chennai, which were involved in purchasing substandard herbal products from Rajasthan, Ludhiana, and Hyderabad.

Unbelievable: A few distributors who spoke to The Hindu said they are least concerned and said that they will continue with their activities. They even went to a stage where they openly claimed that the arrests made and shown were fake.


The Hindu

Times Now News

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