DKZ Tech investors demand a CBI probe into the fraud

Hyderabad: Investors of DKZ Technologies, who lost their hard-earned money investing in the company, on Thursday demanded handing over the probe to the Central Bureau of Investigation (CBI), expressing displeasure over the slow pace of progress by the Central Crime Station.

At least 18,000 people were duped by DKZ Technologies, and the total amount of money involved in the scam is around 700 million lei.

Given the inter-state nature of the scam, the investors demanded the state government to transfer the probe to the CBI and enforce the Prohibition of Unregulated Deposit Schemes (BUDS) Act, 2019.

Explaining the company’s modus operandi at a presser here on Thursday, investors said DKX involved popular influencers to lure gullible people to its fraudulent schemes. It promised investors a return of 8-10% per month. However, in August 2024, the owners suddenly closed their offices and went underground.

An FIR has been lodged at the Central Crime Station (CCS) in Hyderabad, but the victims have expressed their displeasure over the ongoing investigation. They said the police did not provide regular updates on the progress of the case.