Hyderabad, Nov. 7 -- The Cyberabad Economic Offences Wing (EOW) is investigating two city-based companies for allegedly duping nearly 7,400 investors out of Rs 670 crore.

The companies, Shares Bazaar Pvt Ltd (SBPL) and Kisaan Parivaar Ltd (KPL), allegedly cheated investors from all over the country by promising returns ranging from 18 per cent to 48 per cent, The Times of India reported.

SBPL was projected as a SEBI-registered, algorithm-based stock trading firm, while KPL was promoted as an organic farming venture that pooled land from marginal farmers.

More than 500 victims have approached the EOW, reporting losses up to Rs 70 crore.

Cyberabad Police has registered three cases against the companies, with two of the complainants bein...