A Shocking Deception Unveiled

In a shocking turn of events that has sent waves through the financial and educational sectors, the economic offences wing (EOW) of Cyberabad police has launched an investigation into an alleged multi-crore scam perpetrated by a seemingly reputable education consultancy. This dramatic development has been set under the backdrop of Hyderabad, where trust seems to have been thoroughly breached by a few trusted individuals.

The Intricate Web of Deceit

The saga began with the disbursement of a hefty sum — Rs 1.5 crore — by a city-based non-banking financial company (NBFC) in February 2024. According to Keerthi Kumar Jain, director of the NBFC, the loan was granted based on what turned out to be a series of meticulously fabricated invoice receivables and forged employee details.

Revelations and Communications Breakdown

As the consultancy gathered steam from the generous loan, it was an internal audit that sounded the alarm bells. The revelations uncovered a meticulously orchestrated ruse, wherein the consultancy had presented imaginary invoices and non-existent employees. When confronted with these findings, the directors of the consultancy, Kishore Kumar and Shravan Kumar Beengi, swiftly severed all communication channels — replacing open dialogue with threats of unspecified ‘grave consequences.’

The Mounting Dues — A Fiscal Nightmare

By the time the harsh truth came to light, the financial abyss had deepened considerably. As of March 2025, the consultancy stood accused of owing a staggering Rs 2.25 crore, a figure that included the principal, accumulating interest, and related charges. Notably, not a single repayment installment saw the light of day.

Repeated attempts by the NBFC to engage with the borrowers through visits, calls, emails, and legal notices proved futile. The absence of any response, coupled with looming financial consequences, forced the NBFC’s hand, leading to the involvement of the law enforcement authorities. As stated in Times of India, the Cyberabad EOW promptly registered a case against the consultancy’s directors, marking the beginning of a detailed and high-priority investigation.

The Road Ahead

Currently, the police are deep-diving into the loan documents and scrutinizing the financial transactions that transpired between both parties. As the investigation intensifies, it serves as a chilling reminder of the significant threat posed by fraudulent schemes lurking under the guise of legitimate business operations.

The unfolding drama highlights the need for vigilance and due diligence within both financial and educational sectors, reminding us all that appearances can be dangerously deceptive.