Former mason accused in Rs 670-crore scam that allegedly duped 7,400 investors

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Nanavath Bhupal Naik, a former mason from Hyderabad, is accused of running a large-scale investment fraud. The scheme reportedly cheated around 7,400 investors across India of roughly Rs 670 crore. To lure people in, Naik allegedly set up two firms, Shares Bazaar Pvt Ltd and Kisaan Parivar Ltd, and made false promises of returns. He has been arrested in several states, including Punjab and Gujarat, in connection with the offences.

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