Hyderabad Businessman Alleges Rs 2.1 Crore Fraud in Fake Wine Distribution Scheme
In a significant financial fraud case, a 37-year-old businessman from Nadargul, Hyderabad, has approached the Central Crime Station (CCS) police, accusing his relative of duping him and his brother for over Rs 2.1 crore. The complaint alleges that the fraudster induced them to invest in a purported wine distribution business in the city, using fabricated documents and false promises.
Details of the Alleged Fraud
According to police reports, the complainant, identified as P Sukumar of Nadargul, lodged a formal complaint on March 16. He stated that his relative, S Naresh, approached him multiple times starting from April 2024 with a business proposal linked to wine distribution. Naresh claimed to be an authorised sub-distributor associated with a reputed wine company and promised high monthly returns on the investment in his business.
Sukumar further alleged that Naresh showed fabricated agreements, false business documents, and manipulated bank statements to gain his confidence. Believing these claims, Sukumar invested money with Naresh through multiple cash and bank transactions between April 2024 and May 2025.
Financial Losses and Failed Repayment
As per the complaint, Sukumar invested over Rs 1.53 crore, while his brother, P Murali Krishna, invested Rs 24 lakh, taking the total investment to over Rs 1.77 crore. In July 2025, Naresh executed a written agreement promising to return Rs 2.15 crore and issued post-dated cheques as security. However, the cheques were dishonoured when presented for payment.
The complainant also alleged that when he demanded repayment, Naresh, along with his associates and family members, threatened him with serious consequences and warned him against approaching the police. This intimidation tactic added to the distress of the victims, who had trusted a family member with their substantial funds.
Police Investigation and Legal Action
Based on the complaint, CCS police registered a case under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS), which pertains to cheating and dishonestly inducing delivery of property. The case was filed against S Naresh and his associates on March 16. A CCS official stated, "We are analysing the financial transactions and agreement documents as part of the preliminary investigation. Based on the findings, appropriate legal action will be initiated."
The police are currently scrutinising the evidence, including the fabricated agreements and bank statements, to build a strong case. This incident highlights the risks associated with investment fraud, especially when it involves trusted individuals or family members.
Broader Implications and Advice
This case serves as a cautionary tale for investors and businesspersons in Hyderabad and beyond. Key takeaways include:
- Always verify business documents and agreements independently before investing large sums.
- Be wary of promises of unusually high returns, which are often red flags for fraudulent schemes.
- Report any suspicious activities or threats to the police promptly, as delaying can complicate investigations.
The investigation is ongoing, and authorities are urging the public to remain vigilant against such scams. As financial crimes become more sophisticated, it is crucial to exercise due diligence in all business dealings.
