Couple arrested for cheating investors of ₹23 crore

Hyderabad police have arrested a couple, Vuppalapati Satish Kumar and his wife Shilpa Banda, for allegedly cheating people of ₹23 crore by promising high returns on investments.

According to the police, the couple started a company and convinced several people to invest by assuring huge profits. One of the victims, a doctor from Hyderabad, invested large amounts believing their promises.

After collecting money from the doctor and other investors, the couple went absconding. Police later discovered that they had created several shell companies and diverted the collected money into them.

A case was filed based on complaints from the victims. A special police team traced Satish and Shilpa to Karnataka, arrested them, and brought them back to Hyderabad.

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