Hyderabad: The Economic Offences Wing (EOW) of the Cyberabad Police has registered a criminal case against Telugu actor Manineni Murali Krishna and his associates over an alleged investment fraud. The accused are alleged to have collected ₹6.43 crore from multiple investors by promising high returns through a railway contract business before allegedly defaulting on payments. The investigation is currently underway.
According to the complaint, the complainant, Dr. Cherukuri Suresh Naidu, first met Manineni Murali Krishna in 2022 while treating one of the actor’s relatives. The two remained in contact thereafter. The complaint alleges that the actor later introduced himself as the head of an NGO called 100 Dreams Foundation and, in June 2024, offered the complainant an investment opportunity in a railway contract business based in Hubballi, Karnataka.
The actor allegedly claimed to own a company named Sri Vasudhaika Pro Works and stated that his sister, M. Venkata Vijayalakshmi, a director in the company, would personally guarantee the investments. He allegedly persuaded the complainant to invest ₹50 lakh by promising monthly returns of ₹8 for every ₹100 invested over a period of 12 months.
The complainant further alleged that the actor encouraged him to raise additional funds through loans and Kapil Chits in order to increase his investment. Investigators believe that several other investors were approached using a similar method and persuaded to invest substantial amounts.
According to police, investors initially received the promised returns for a few months, which strengthened their confidence in the scheme. However, payments allegedly stopped from June 2025 onwards. Whenever investors sought repayment of their money, the accused allegedly cited delays in railway project payments, operational issues in Hubballi, and other business-related reasons to avoid making repayments.
Preliminary findings indicate that the accused collected a total of ₹6.43 crore from multiple investors through the alleged investment scheme. The Economic Offences Wing is now examining the flow of funds, investment documents, bank accounts, and the company’s financial records to determine how the money was utilised.
Investigators are also examining whether the investment venture was a legitimate business operation or whether it was designed from the outset to deceive investors. If the allegations are substantiated, the accused may face charges relating to cheating, criminal breach of trust, and other applicable offences.
Financial crime experts advise investors to exercise caution whenever an investment scheme promises unusually high and guaranteed returns. They recommend independently verifying a company’s registration, financial standing, regulatory compliance, and business credentials before investing any money.
Police have urged the public not to invest in any scheme solely on the basis of personal assurances or attractive return promises. Anyone who suspects investment fraud should immediately report the matter to the police or the appropriate financial crime investigation agency so that timely legal action can be initiated.
