Hyderabad: The sleuths of the Central Crime Station seized 77 cars of different models, a two-wheeler and some documents from the two directors of the Delta Cabs — Sajid Hussain and Ahmed Hussain — on Monday.
They were arrested in connection with a fraud worth Rs 28 crore. Though the cops had taken the duo into custody for questioning about a week ago, their arrest was confirmed only on Monday.
Sajid, 40, is a resident of Venkateshwara Housing Society in Banjara Hills, while Ahmed, 39, is a resident of King Koti. They were held following a complaint lodged by 25 victims who had invested in Delta Cabs. The complaint was formally lodged with the Narayanaguda police and was later transferred to the CCS. The duo allegedly cheated more than 844 persons.
According to L.K.V. Ranga Rao, DCP CCS, detective department, the accused had started a taxi services. Later, they started collecting amounts ranging from Rs 1 lakh to Rs 6.5 lakh from the investors by luring them with attractive benefits.
One of the schemes involved the investor purchasing an Indica car by investing Rs 2.25 lakh. In return, the accused promise to pay about Rs 8,500 for 60 months as monthly rentals. There were similar schemes for other makes of car likes Mahindra Verito, Toyota Innova etc.
The accused also promised to clear the bank finance amount and release the vehicle freely to the investor. Moreover, they took investments of about Rs 1 lakh and promised to pay the investors Rs 5,000 per month for 60 months as monthly interest. After collecting money from the investors, they stopped the payment and cheated them.