Hyderabad, Aug. 1 -- The Economic Offences Wing, Hyderabad, arrested two individuals from Pune on Friday, July 31, on charges of Multi-Level Marketing (MLM) financial fraud.

The arrested have been identified as Padamati Surender Reddy, 55, a private employee and Parwinder Singh Fingh, 37, working in HSBC.

The arrests were made following a police complaint by two families - Ramadevi Gundeti and her husband Srinivas Aemula, and Satheesh Reddy and Pavani - who alleged they were cheated of nearly Rs 28 lakh. Surender Reddy and three others lured them into investing in 'Vihaan Direct Selling (India) Pvt. Ltd,' in return for high returns and a direct-selling venture.

According to police, in August last year, Surender Reddy arranged a meeting...