Now Reading: Ganesh laddu auction winner booked for Rs 3.45 cr fraud
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Ganesh laddu auction winner booked for Rs 3.45 cr fraud
Cyberabad's economic offences wing has booked Kondapalli Ganesh, the businessman who won the Ganesh laddu auction for Rs 51 lakh in 2025, for allegedly cheating six fellow residents of Rs 3.45 crore.…
The Story in Brief
Cyberabad's economic offences wing has booked Kondapalli Ganesh, the businessman who won the Ganesh laddu auction for Rs 51 lakh in 2025, for allegedly cheating six fellow residents of Rs 3.45 crore. A complaint by Sylvia Srinivas Reddy says Ganesh used his auction success to build credibility, then promised 6% monthly returns on investments in wine shops and real estate.
The complainant invested Rs 31 lakh between October and December 2025 based on those promises. When returns failed, she discovered five others had also been induced. Ganesh allegedly diverted funds to associates, bought properties in their names, and vacated his flat and office by April 2025. The EOW registered the case on August 3 under sections 318(4) and 316(2) of the Bharatiya Nyaya Sanhita.
The Indian Opinion
The case exposes how a gilded reputation built on a religious auction can be weaponised to cheat ordinary neighbours. Some may dismiss this as a rich man's spat, but the pattern, luring investors with flashy gestures, promising unreal monthly returns, and then vanishing, is distressingly common. What is the police recovery rate in such cases? Or will the accused's past 'piety' influence the court's view on bail?
Source: timesofindia.indiatimes.com
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