- Hyderabad authorities have arrested 34-year-old Nunavath Yugandhar for allegedly defrauding over 30 victims of 100 million rupees in a property loan scheme.
- Investigators say the suspect operated across Telangana and Andhra Pradesh, using falsified documents to secure high-value bank loans before defaulting.
- The case has raised concerns over inter-state regulatory oversight and real estate collateral verification in South India’s growth hubs.
Hyderabad police have arrested a 34-year-old man accused of cheating property owners by promising to arrange bank loans against their properties. The accused, identified as Nunavath Yugandhar, was taken into custody by the Central Crime Station (CCS). Police say he is linked to more than 20 cases in Telangana and Andhra Pradesh and has a criminal record dating back to 2016.
According to police, Yugandhar allegedly approached property owners with offers of financial assistance and loans against their properties. In one case, he provided financial assistance of ₹60 lakh to a complainant and executed a sale deed along with a memorandum of understanding stating that the property would not be sold.
Police allege that the property was later transferred to another person without the complainant’s consent and was subsequently used to obtain a bank loan of around ₹1.5 crore from Axis Bank. The alleged fraud came to light after the loan was not repaid and the complainant received a repayment notice from the bank.
Investigators say Yugandhar has been involved in 12 similar criminal cases as well as eight civil and Negotiable Instruments Act cases. His alleged activities have been reported in both Telangana and Andhra Pradesh.
Law enforcement officials revealed that Yugandhar’s police record dates back to 2016, with over 20 active cases filed against him in regional courts. The charge sheet includes 12 criminal fraud cases alongside eight civil matters governed by the Negotiable Instruments Act, which regulates legal disputes involving defaulted cheques and financial instruments. Over the course of his operations, police estimate that more than 30 property owners were tricked into signing away real estate rights under the impression that they were securing low-interest commercial credit.
Police estimate that more than 30 people were cheated of around ₹10 crore through similar schemes involving loans against property. Authorities allege that victims were persuaded to enter property-related agreements while believing they were receiving financial assistance or securing loans.
Following his arrest, Yugandhar was produced before a court and remanded to judicial custody. Police have advised property owners to carefully verify the credentials of individuals or financial consultants offering loans against property and to review all property and loan documents before entering into such agreements.
