Hyd police nab 2 kingpins behind multi-crore Multyjet scam

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Multyjet invited the public to invest money in commodity trading for which it offered 2-3% returns on investments on a daily basis.

By Newsmeter Network  Published on  28 Nov 2022 12:33 PM GMT


Investment fraud: Hyd police nab 2 kingpins behind multi-crore Multyjet scam

Hyderabad: Two persons were arrested on 26 November by the detective department of the Hyderabad police for pulling off a multi-crore investment fraud.

The arrested persons were identified as Mukthi Raj, the managing director of Multyjet and a resident of Musheerabad, and G. Bhaskar, his associate and a resident of Bandlaguda village in Jangaon.

Multyjet Trade Pvt. Ltd. was launched in July 2022. Initially, it was called Real Life Infra Developers, and in August 2022, its name was changed to Multyjet Trade Pvt. Ltd. The company operated from Habsiguda.

The fraud

Multyjet invited the public to invest money in commodity trading for which it offered 2-3% returns on investments on a daily basis. A website was developed and the investors were given…

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