Ex-army man held for cheating investors of Rs. 4.4 crores in Hyderabad

Hyderabad: The Economic Offences Wing (EOW) of Cyberabad Police has arrested Jetendra Kumar Choubey, an ex-serviceman, for allegedly cheating and collecting a total of Rs. 4.48 crores from victims under the guise of business investments. The accused lured investors with promises of high returns in the name of deposits for his companies, J.K. Enterprises, Soumya Sri Hospital, and Karthik Logistics. The case, registered under Sections 316(2), 318(4), and 351(2) of the BNS and Section 5 of the TSPDFE Act, 1999, involves charges of criminal breach of trust and cheating.

Jetendra Kumar Choubey, a native of Bihar, had served as an electrician in the Military College at Tirumalagiri, Secunderabad, before retiring in 2018. After retirement, he settled in Bollaram, Hyderabad, where he started his businesses. Promising investors a return of 5% per month on deposits, Jetendra Kumar Choubey attracted several people, including ex-servicemen. One of the complainants, Chandrawati Devi, deposited Rs. 2,00,000, and many others followed suit.

However, after initially paying returns for a few months, the accused stopped making payments. In December 2024, Jetendra Kumar Choubey shut down his businesses and went into hiding. On May 21, 2025, he was arrested by the EOW Police in New Delhi.

 Public Advisory

The Cyberabad EOW Police urge the public to be cautious when dealing with individuals or companies that promise unusually high returns. It is important to verify the legitimacy of any business before making financial investments. Suspicious activities should be reported to the nearest police station or the EOW.

The investigation is being led by S. Murali Krishna, Assistant Commissioner of Police, Economic Offences Wing, Cyberabad, under the supervision of K. Prasad, Deputy Commissioner of Police, EOW, Cyberabad.