HYDERABAD: A 60-year-old businesswoman has filed a criminal complaint against six individuals, including her own brother, after being defrauded of ₹2.8 crore in a bogus coffee powder manufacturing investment scheme. The total scam, worth ₹5.7 crore, lured multiple investors with promises of high returns before collapsing, leaving them with heavy financial losses.
The fraud began in 2019 when the woman’s brother and his wife convinced her to invest by offering a 4% monthly return. They claimed the funds would support a coffee powder manufacturing business based in Kenya, which was supposedly expanding to the U.S. To make the scheme seem credible, the accused allegedly showed photos and videos of West Indian cricket star Chris Gayle, falsely claiming he was involved as a promoter.
“The complainant was assured that the company’s owner was personally known to them and that one of the accused was becoming a partner in the business,” officials from the Central Crime Station stated.
Trusting her brother, the woman invested ₹2.8 crore. Encouraged by initial returns, she persuaded family and friends to invest another ₹2.2 crore, while others contributed ₹70 lakh, bringing the total investment to ₹5.7 crore. The accused initially made payouts, reinforcing the illusion of legitimacy. However, payments eventually stopped, and when the woman confronted her brother, he insisted that their children had verified the U.S. unit’s existence.
Despite repeated demands for updates, the accused avoided answering investors’ concerns. When she finally confronted her brother again, he allegedly hurled verbal abuses at her. Of the ₹5.7 crore invested, victims have only recovered ₹90 lakh. An investigation is now underway.
