Hyderabad, April 8 -- An instance of corporate fraud has surfaced at Jubilee Hills, where Symphony IT Distribution has been booked by the police for allegedly cheating their client to the tune of nearly USD 292,000 (about Rs 2.4 crore).

As per the complaint lodged at Jubilee Hills police station, people associated with a famous film producer's family had cheated the complainant in business transactions after misleading him. However, the promised services or supplies were never delivered, leading to allegations of cheating, reported Telangana Today.

The police have reportedly started a thorough investigation and are scrutinising the accounts and transactions of the accused to verify their sources of income and how the money has been laun...