Madhapur Trader Duped In ₹2 Crore Loan Fraud
HYDERABAD: A 59-year-old businessman from Madhapur approached the police after his company’s bank accounts were misused by a fraudster who promised to arrange a business loan and later routed transactions worth around ₹2 million through these accounts.
According to the complaint, a representative of Shilpa Electrical Engineers and Sai Krupa Construction opened an account in a bank. In July 2025, he was contacted via WhatsApp by a person identified as Dharmarapu Venkanna, claiming that he could provide a business loan.
The accused insisted that the company’s bank accounts were required for the processing of the loan and obtained the relevant documents from the complainant. He also persuaded the businessman to grant temporary access to the accounts and assured that it was necessary to credit the loan amount.
Trusting the allegations, the complainant allowed access. However, he later discovered that numerous credit and debit transactions amounting to around ₹2 crore were carried out through the accounts without his knowledge or consent.
Although the complainant had no direct financial loss, the issue came to light when company executives discovered that the accounts had been frozen. Bank officials informed him that suspicious and fraudulent transactions linked to multiple complaints had led to the bank being frozen.
