Victims of Raki Avenue blame anchor Suma’s ad for their flat purchase, financial loss
Hyderabad: Thousands of families claim to have been defrauded by Raki Avenue Private Limited in purchasing flats from the Chandrika Avanthika Phase-2 project in Rajahmundry, Andhra Pradesh. The alleged scam involved misleading advertisements featuring popular television anchor Suma and her husband, which led many to invest huge amounts of money in the project.
The controversy started when an advertisement endorsed by Suma promised high-quality flats in Rajahmundry at competitive prices. Families attracted by the promotional advertisement invested their life savings and even took out loans to purchase two-bedroom flats priced at Rs. 16 lakhs and three-bedroom flats at Rs. 26 lakhs.
However, buyers now report that the flats have not been completed as promised. Despite their huge investments, many claim the construction has stalled, and the properties remain unfinished. In addition, the company’s office has reportedly been abandoned, and no employees are available to address customer grievances. The company’s chairman and managing director, Ramaiah Venu, is also absconding, said the victims.
Victims stated in a press conference that customers had brought the issue to the police, who assured them that an investigation would be conducted.
Victims are calling for justice from the Andhra Pradesh government, highlighting their financial struggles due to the alleged fraud.
One victim said, “After seeing Suma’s ad, we purchased flats. Now, we have lost everything we invested and don’t even have basic necessities.”
The victims of the Raki Avenue scam have contacted the media to raise awareness about their situation, hoping that this will help speed up the investigation and lead to justice.
In a previous promotional interview, the Managing Director of Raki Avenue stated in a video that the company's goal was to ensure the success of many people and to adhere to commitments strictly. He also highlighted that "customers are like gods" to the company.
యాంకర్ సుమ ప్రకటనలు చూసి రాకీ అవెన్యూస్ లో అపార్ట్ మెంట్ ఫ్లాట్లు కొని ఇప్పుడు మోసపోయిన బాదితులు వీళ్లంతా.. జీవితమంతా సంపాదించిన డబ్బుకు తోడు అప్పులు చేసి మరీ ఫ్లాట్ల కోసం డబ్బులు కడితే రాకీ అవెన్యూస్ నిలువునా ముంచేసింది pic.twitter.com/thIK6811KJ
— ASHOK VEMULAPALLI (@ashuvemulapalli) August 6, 2024
