Residents of Hyderabad's Golconda and nearby localities have been left in shock after a seemingly lucrative wholesale egg business venture turned out to be an elaborate scam, allegedly defrauding them of a staggering sum exceeding Rs 2 crore. The masterminds, a couple, have now disappeared without a trace, leaving a trail of financial ruin and broken promises.
The Modus Operandi of the Alleged Scam
According to a formal complaint lodged with the police, the scheme was orchestrated by Maifuzulhaq Mohammadazim Makandar and his wife, Sana Maifuzulhaq Makandar. The couple presented a business model for a wholesale egg venture, enticing potential investors with the promise of high monthly returns on their capital. The proposition appealed to several individuals looking for profitable investment opportunities.
The complainant, a 39-year-old businessman from Naya Qila named Shaik Majeed, detailed his own substantial losses. He stated that he invested Rs 10 lakh on two separate occasions – first on December 16, 2024, and again on March 30, 2025. His experience is not isolated. Preliminary police investigations reveal that at least seven other individuals invested sums ranging from Rs 2.5 lakh to Rs 10.5 lakh each into the venture.
Disappearance and Police Action
The scheme unraveled when the investors could no longer contact the couple. As per the complaint, Maifuzulhaq and Sana Makandar have been untraceable since August 4, 2025. "Their rented house is locked, and their mobile phones are switched off whenever we try to contact them," Shaik Majeed alleged in his complaint, highlighting the complete disappearance of the accused.
Following the complaint, the Central Crime Station (CCS) of Hyderabad initiated an investigation. Officers spoke with Majeed and other victims to gauge the full extent of the fraud. The police have estimated that the total number of victims and the financial loss could be higher as the probe continues, with the current estimated loss pegged at around Rs 2 crore.
Based on the findings, the CCS formally registered a case. The charges have been framed under the new criminal law, the Bharatiya Nyaya Sanhita (BNS). Specifically, the case has been filed under section 318 (4) for cheating and dishonestly inducing delivery of property, read with section 3 (5) pertaining to common intention.
Broader Implications and Investor Caution
This incident serves as a stark reminder for the public to exercise extreme caution when approached with investment opportunities promising unusually high returns with little risk. The Hyderabad police are actively working to locate the absconding couple and uncover the full network of this alleged scam.
Authorities urge anyone with additional information or who may have been a victim of this specific scheme to come forward and assist with the investigation. The shift to the BNS for registering the case also marks one of the early applications of the new legal framework in tackling serious financial fraud in the city.
