Hyderabad: Case against DKZ Technologies for financial fraud

Hyderabad: The Hyderabad police have registered a case against DKZ Technologies for allegedly defrauding investors of several crores of rupees by promising them lucrative returns on their investment.

According to the police, the company cheated by collecting money from thousands of people in AP, Telangana, Karnataka and Maharashtra claiming that they would get 8 to 12 percent profit on their investment. As of 2018, the company’s investors have their money invested in different businesses and are paid monthly profits.

Since June, the company has stopped paying the amount to investors who found it closed when the Madapur office was inspected. Due to this, the investors approached Hyderabad CCS and complained. Police have registered a case and are investigating.

A case has been registered against Ashfaq Rahil, Iqbal, Umair, Moiz, Aslam, Bilal, Nazir and others working in various capacities in the company. The police formed six teams to investigate this fraud.

Victims of the fraud staged a protest at the Hyderabad CCS office against the company and demanded that the police take action against the management and help them get their money.