New Delhi, Nov. 9 -- A Hyderabad-based man who once worked as a mason and petrol pump attendant is now facing allegations of orchestrating a Rs.670-crore investment fraud involving around 7,400 investors across India.

Nanavath Bhupal Naik, a native of Telangana's Vikarabad district, allegedly built his investment business around the promise of giving nearly 4% monthly returns. He collected money through two companies for this purpose.

The Cyberabad Economic Offences Wing (EOW) is investigating three cases linked to the alleged fraud, which involved Shares Bazaar Pvt Ltd (SBPL) and Kisaan Parivar Ltd (KPL), The Times of India reported.

Police have so far traced only about Rs.35 lakh in the 70 bank accounts linked to his companies and th...