Woman dupes investors of nearly Rs 3 crore in Madhapur fraud case

A woman allegedly duped multiple investors of nearly Rs 3 crore in Hyderabad’s Madhapur by promising high monthly returns through fake schemes. Police registered a case after complaints, with preliminary findings indicating several victims and a wider financial fraud network.

Hyderabad: A major investment fraud has come to light in Madhapur, where a woman allegedly duped several people to the tune of nearly Rs 3 crore, by promising unusually high monthly returns.

According to police, the complainant, K Revanth, a private employee from Madhapur, came into contact with Lavanya Konidela in August 2024 through a friend. She introduced herself as the owner of a firm and claimed of operating an office in Vittal Rao Nagar while residing in Lanco Hills.

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Gaining his trust, she promised lucrative returns of about 5 per cent fixed monthly income along with an additional 3 per cent profit on capital investments. She further claimed that several prominent individuals had already invested with her, further convincing the victim.

Believing her assurances, Revanth transferred a total of Rs 67 lakh in phases between August 2024 and March 2025. The funds were sourced from his own account as well as those of his father and sisters residing in the United Kingdom.

Initially, the suspect paid returns for a few months, creating a sense of credibility. However, she later stopped payments altogether. When questioned, she allegedly gave evasive replies and even threatened to file false cases against Revanth.

Following a complaint, Madhapur police registered a case and took up investigation, during which officials found that several others had also been cheated in a similar manner.
The suspect reportedly operated a dedicated WhatsApp group to attract investors, using the pretext of cryptocurrency trading and high-profit schemes.
Preliminary findings suggest that the total fraud could be close to Rs 3 crore.
Police are now working to identify if there are other victims and also trying to trace the financial trail.