A case has been registered against film producer Devineni Sreenivas and others in Hyderabad over an alleged investment fraud involving Rs. 3.34 crore. The Jubilee Hills police have taken up the complaint and are investigating the matter.
According to the complaint, the couple had previously stayed in South Africa and were in Hyderabad when Devineni Sreenivas and others allegedly approached them with a business investment proposal. They were reportedly introduced to a company operating under the name Sprint Chem India.
The couple alleged that they were encouraged to invest in the business and were promised a 10 percent stake. They reportedly invested around 4 million South African Rand after being assured a 5 percent return within six months.
The complainants further alleged that they were asked to invest additional amounts for expanding the business. They claimed that the promised returns did not materialise and that they eventually suffered significant financial losses.
The total amount mentioned in the complaint is reportedly Rs. 3.34 crore. Based on the complaint, police registered a case against Devineni Sreenivas and the other individuals named in it.
The allegations are currently under investigation and have not been established as fact. Further details are expected as the police proceed with the case.
