Indian couple, linked to ₹50 crore fraud, goes missing on Switzerland trip

AN Indian couple was reported missing days after they embarked on a sightseeing trip to Switzerland. According to an India Today report, no communication could be established with them as their mobile phones remained switched off for more than 20 days.

The missing couple, identified as Pabba Chandrasekhar and his wife Pabba Swapna, were residents of Cherlapally in Hyderabad who were allegedly involved in a ₹50 crore fraud. As per city police, Chandrasekhar ran a cement finance business named Sri Venkateshwara Marketing and a chit fund firm in Kushaiguda for three decades, the Deccan Chronicle reported.

The couple's daughter, Pabba Shreya, filed a complaint Charlapalli Police Station after she was unable to contact her parents and a missing persons report was registered on 9 July. In her complaint, she mentioned that she had been unable to contact her parents for over three weeks despite repeated attempts, India Today reported, citing her statement. During the initial days of their holiday, the Hyderabad couple remained in regular contact with their family, the police informed the news outlet.

An investigation is underway to trace the couple as officials are exploring all possible leads and are even trying to reach out to the appropriate authorities and agencies to gather information and explore details about their whereabouts and circumstances.

However, Deccan Chronical report published on Saturday suggests that their daughter was in touch with her parents till 8 July, which was the last date when she last received a message from them before her parents went incommunicado. The couple reportedly left their Cherlapally home on 22 June.

When the news about their disappearance spread, investors connected to Chandrasekhar’s chit fund business assembled outside his house to protest. Demanding repayment, the investors alleged that he borrowed large sums for his daughter’s marriage and family health issues.

A complainant identified as B Sabita accused Chandrasekhar of deception, stating that he took lakhs from locals by luring them with promises of quick repayments and high interest. Another complainant, G Satyanarayana claimed Shreya's father collected ₹50 crore from over 70 people before disappearing. Another case relating to the scam has been registered, Malkajgiri police commissioner B Sumathi confirmed to the publication. While authorities are examining financial records, a senior officer said, “We are probing all angles and may write to the Swiss embassy if required,” a senior officer said.

Amid the increasing number of scams, Hyderabad police warned, "Think once about why they're giving you these "money-doubling trading secrets" for free. Don't fall for words that promise lakhs in returns on investments of thousands. Don't go chasing easy money and get scammed."