Archive · 20 Jul 2026
Ayurveda Doctor Arrested Again in Rs 30-Crore Ponzi Scheme
An Ayurveda doctor named Kitcha Veerbhadra Rao was arrested again for running a ponzi scheme where he promised high returns but didn't pay back many investors.
He was first arrested in April and then again in July for the same scheme.
He also was involved in a different scam where he stole money from a bank account and moved it through many other accounts.
The police have found some of the stolen money, but not all of it has been returned to the victims.
Kitcha Veerbhadra Rao, an Ayurveda doctor, was re-arrested for a Rs 30-crore ponzi scheme in Hyderabad.
He was first arrested in April 2024 and re-arrested on July 15, 2024, for defrauding 270 investors.
Rao allegedly promised monthly returns of 10-16% and used a fake SEBI certificate to dupe investors.
He was also involved in a Rs 5.85-crore cyber scam in Gurugram, where money was moved through multiple bank accounts.
The police have recovered Rs 1.06 crore of the stolen money, but Rs 23 lakh remains unreturned.
- Who
- Kitcha Veerbhadra Rao, an Ayurveda doctor from Andhra Pradesh
- What
- Arrested for a Rs 30-crore ponzi scheme and a Rs 5.85-crore cyber scam
- When
- First arrest on April 1, 2024; re-arrest on July 15, 2024
- Where
- Hyderabad and Gurugram
- Why
- Allegedly defrauded 270 investors and involved in a digital arrest scam
- Accused
- Kitcha Veerbhadra Rao
- First Arrest
- April 1, 2024
- Re-arrest
- July 15, 2024
- Total Defrauded Amount
- Rs 30 crore
- Victims
- 270 investors
- Amount Returned
- Rs 15-20 crore
- Gurugram Scam Amount
- Rs 5.85 crore
- Cryptocurrency Recovered
- Rs 40 lakh