Hyderabad: Enforcement Directorate officials in Hyderabad on Tuesday arrested Sahiti Infrastructure director Sandu Poornachander Rao in connection with a multi-crore real estate scam.
According to the ED’s zonal office, Poornachander Rao was taken into custody for his alleged role in defrauding investors under the guise of pre-launch offers. Investigators said the firm collected ₹8,000 crore from over 700 customers by promising villas and plots that were never delivered.
Sahiti Infra scam linked to 32 firms and ₹120 crore in fund diversion
Poornachander Rao is accused of diverting ₹120 crore from the funds collected under the Sahiti brand. He allegedly conspired with Sahiti Infra chairman Lakshminarayana, who was previously arrested in the same case.
Lakshminarayana is reported to have operated through 32 associated companies, including Sahiti, to execute the scam. The ED suspects the network was used to launder and divert investor money on a large scale.
