The Cyberabad Economic Offences Wing (EOW) has registered a cheating case against entrepreneur M Sandhya Rani, her husband N Sridhar, and their associate Ramdas for allegedly duping a local businessman and his wife of Rs17.8 crore.
The complaint was filed by 39-year-old businessman G Prakash, who stated that Rani befriended him in October 2024, posing as an entrepreneur in leather manufacturing and school uniform supply.
According to the victim, Rani convinced him to incorporate two firms and take loans totaling Rs12.8 crore by mortgaging his properties in Hyderabad and Suryapet. Additionally, Prakash raised about Rs5 crore through hand loans from friends and relatives, transferring the money between January 7 and February 5 to multiple accounts controlled by the accused.
The accused allegedly routed funds through 11 bank accounts linked to shell vendors, using forged purchase orders and invoices to create the appearance of legitimate business activity. When Prakash sought repayment, the accused threatened him and claimed that fresh funds would arrive from a Bengaluru-based foundation.
