Crime Hyderabad

Cyberabad cops arrest director of Metalloids Technologies in deposit scam

Metalloids Technologies Deposit Scam

Hyderabad: In a major development, the Economic Offences Wing (EOW) of Cyberabad Police arrested Mousami Biswas (49), Director of Metalloids Technologies Pvt. Ltd., on June 22nd, 2024, in Kolkata, West Bengal.

Biswas is accused of being involved in a large-scale deposit scam with her husband, Jayant Biswas, the company’s MD and CEO. The couple allegedly collected approximately ₹70 crores from unsuspecting victims by promising lucrative returns on their deposits. However, the company reportedly defaulted on these repayment obligations, causing financial distress to numerous individuals.

The Economic Offences Wing (EOW) registered a case following directives from the Commissioner of Police, Cyberabad, and the Deputy Commissioner of Police, EOW, Cyberabad. This action was taken based on complaints filed by T. Sridhar and other victims who had deposited money with Metalloids Technologies.

According to the police, Mousami Biswas and her husband, Jayant Biswas, allegedly planned a scheme to gain quick wealth. They established Metalloids Technologies Pvt. The company initially offered returns to build trust and entice further investments. However, after accumulating a significant amount, they allegedly ceased repayments.

Multiple cases have been registered against Mousami Biswas and her husband, Jayant Biswas, at police stations in Madhapur, RC Puram, and Raidurgam within Cyberabad’s jurisdiction. She was reportedly absconded before her arrest in Kolkata.

Following her arrest in Kolkata, Biswas was brought to the Economic Offences Wing (EOW) Police Station, Cyberabad, and remanded to judicial custody. The investigation is underway under the supervision of K. Prasad, Deputy Commissioner of Police, EOW, Cyberabad, with Inspector of Police A. Sreedhar Kumar leading the team.

In light of these developments, Cyberabad EOW Police caution the public against fraudulent companies that promise high returns on deposits within short periods. They assure continued efforts to prosecute such entities and deliver justice to affected individuals.