5 days ago
Man Arrested in Kadapa Over Alleged ₹50 Lakh Investment Fraud
Police in Kadapa arrested a man accused of cheating people out of money.
They say he promised investors large profits from trading and exporting food overseas.
One person allegedly gave him ₹50 lakh after hearing these promises.
The man reportedly said he owned two companies in Hyderabad.
Police believe other people may also have given him money.
Cases were reportedly registered against him in several years.
A court sent him to judicial custody.
Police are now trying to find more victims and determine the total amount involved.
Kadapa One Town police arrested 43-year-old Jestadi Suman Deepak Raj on allegations of cheating investors.
Police said he promised high returns through global trading and overseas food export businesses.
A complainant allegedly invested ₹50 lakh after being told Suman owned two Hyderabad-based companies.
Investigators said several other people may have been cheated through similar promises.
Suman was produced in court and remanded in judicial custody as investigation continues.
- Who
- Kadapa One Town police arrested 43-year-old Jestadi Suman Deepak Raj after a complaint by Godugu Shiva Kumar.
- What
- He is accused of collecting money by promising high investment returns through trading and overseas food exports.
- Where
- The case was handled by Kadapa One Town police; the accused reportedly lived in Hyderabad and claimed to operate companies there.
- When
- The complaint was lodged on April 11; police said cases were registered in 2015, 2016, 2018, 2025 and 2026, and the arrest occurred on Thursday.
- Why
- Police allege he made false claims about his business credentials and used them to obtain investments.
Key facts
- Accused
- Jestadi Suman Deepak Raj, 43
- Alleged amount in complaint
- ₹50 lakh
- Complainant
- Godugu Shiva Kumar
- Promised ventures
- Global trading and overseas food export businesses
- Claimed companies
- Jestadi Suman Global Trading Private Limited and Ever First Imperial Global Logistics Private Limited
- Police station
- Kadapa One Town police station
- Current status
- Remanded in judicial custody; further investigation is under way
Sources
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