Sai Surya Developers MD Arrested for Fraudulent Money Collection

Hyderabad: Sai Surya Developers Managing Director Kancherla Satish Chandra has been arrested for allegedly collecting money under a pre-launch offer, promising real estate developments. Reports indicate that Satish Chandra, in collaboration with Bhagyanagar Properties MD Narendra, collected Rs. 5 crore from buyers for a supposed venture in Vattinagulapalli.

Authorities have revealed that this isn't the first time Satish Chandra has faced legal issues. With 11 cases already registered against him, his latest scheme involved misleading investors by presenting lucrative offers without any substantial project development. Police are continuing their investigation to ensure justice for the affected individuals and to curb similar fraudulent practices in the real estate sector.