Hyderabad Businessman Charged With Rs 58 Lakh Investment Fraud

A local businessman in Hyderabad is now facing a criminal case for allegedly defrauding an investor of Rs 58 lakh through a food business venture. The Banjara Hills police registered the case on Friday.

The complainant, Kamuni Akshay Nag of Khairatabad, stated that the accused, Kanthi Dutt Thonangi, persuaded him to acquire a 10% stake in Winners Eleven Foods between January and March 2024. Akshay also mentioned that one of the company's outlets in Banjara Hills was on the verge of closure due to financial difficulties, reported ToI.

Akshay alleges that Dutt had already planned to close the Banjara Hills branch in December 2023 but continued to solicit investments. "Dutt provided fabricated bills and accounts when questioned about the business operations," Akshay claimed.

Following the complaint, Banjara Hills police filed a case against Dutt under sections 318(4) (cheating and dishonestly inducing delivery of property), 336(3) (forgery for cheating), and 316(2) (criminal breach of trust) of the BNS.

Dutt has a history of similar charges; the Hyderabad Central Crime Station (CCS) police previously charged him with cheating in February 2025. He was also arrested by Jubilee Hills police last year in a comparable case involving investor fraud.

Banjara Hills Sub-Inspector K Ramesh stated, "We are in the process of collecting evidence."