Real estate developer Yellapragada Prabhakar collected 25 crores in Telangana by swindling nearly 1,000 investors into buying plots from him over the last two years. (Representational Image)
It was a multi-million-dollar scam that promised plots in a housing complex to be built exclusively for Brahmins in Mahbubnagar.
Real estate developer Yellapragada Prabhakar collected 25 crores in Telangana by swindling nearly 1,000 investors into buying plots from him over the last two years that existed only on paper, city police chief P Viswa Prasad said. The developer was arrested over the weekend
"He spent crores on TV and newspaper advertisements to target the Brahmins with the promise of developing a Brahmin housing project," Mr Prasad told news agency AFP.
The fake complex promised a nursing home for elderly Brahmins, a Brahmin-only marriage hall, a religious school and no access to the complex for non-vegetarians.
Prabhakar had been arrested earlier for financial crimes but had jumped bail, reported the Press Trust of India.