Hyderabad Police Arrest Trio for ₹30 Crore Investment Scam Involving 290 Victims

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Nagole Trio Arrested for Duping 290 Investors

Between June 2024 and July 2025, a group of three individuals operating under the banner “Veerabhadra Trading” allegedly defrauded nearly 290 investors of approximately ₹30 crore.

The Investigation

Kitcha Veerabhadra Rao, 51, his wife Rajyalakshmi, and their assistant Venkata Durga Prasad were arrested for duping investors.
The trio targeted potential investors with promises of unusually high monthly returns.
They offered investors a 10% monthly return, guaranteeing ₹10,000 for every ₹1 lakh invested.
To establish credibility, they made initial payments to a select few investors, attracting a larger pool of participants.
Closely around ₹30 crore was deposited into various accounts associated with the scheme.

Experts’ Warning

According to former IPS officer Prof. Triveni Singh, “Investors must thoroughly verify both technical and legal aspects of any investment platform before committing funds. Schemes promising unusually high returns are often indicative of a Ponzi scheme.”

Authorities’ Response

The Nagole police have launched an investigation and are tracing bank accounts linked to the scheme.
Officials are identifying account holders and mapping the network of individuals involved.
The police are urging the public to exercise extreme caution when considering investments, particularly those offering unusually high returns.
Authorities expect to recover a significant portion of the stolen funds.