2 weeks ago
Cyberabad Police Arrest Kondapalli Ganesh for Investor Fraud
A man named Kondapalli Ganesh, also called Laddu Ganesh, was arrested by police in Hyderabad.
He is accused of taking lots of money, about 33 crore rupees, from more than 130 people.
He promised these people that he would give them big monthly returns on their money.
One complaint says a couple gave him 31 lakh rupees after he promised six per cent returns every month.
Police say the money may have been moved into other businesses and auctions.
Investigators are also checking claims that he bought property using other people's names.
Ganesh became famous for bidding very high amounts at a special laddu auction.
Police are still investigating where all the money went and how it was used.
Cyberabad Economic Offences Wing (EOW) police arrested Kondapalli Ganesh, known as Laddu Ganesh, on Friday in a cheating case.
Ganesh is accused of collecting around Rs 33 crore from more than 130 persons and diverting funds into other businesses.
A complaint by Sylvia Srinivas Reddy alleged Ganesh promised six per cent returns per month, payable quarterly, and persuaded investors including her family to invest Rs 31 lakh.
Investigators are examining whether investor money was diverted towards excise auctions, properties acquired through associates and benami entities, and funds concealed abroad.
Ganesh gained prominence from winning the My Home Bhooja Ganesh laddu auction for Rs 29 lakh in 2024 and a record bid of Rs 51.07 lakh in 2025.
The complaint alleged Ganesh vacated his My Home Bhooja residence and office by April 2026 and moved to another residential complex in Gachibowli.
- Who
- Kondapalli Ganesh, also known as Laddu Ganesh, arrested by Cyberabad Economic Offences Wing (EOW) police; complainant Sylvia Srinivas Reddy, 55.
- What
- Arrest of Kondapalli Ganesh for allegedly duping investors of around Rs 33 crore by promising six per cent monthly returns and diverting funds into other businesses.
- Where
- Hyderabad, under Cyberabad police jurisdiction, including My Home Bhooja residential complex and Gachibowli.
- When
- Friday (arrest confirmed); case filed following a complaint involving events up to April 2026.
- Why
- Ganesh allegedly induced more than 130 persons to invest money with promised returns that were never paid, and the principal was not returned.
Accused Side
Complainant Side
Nature of funds
Accused Side
Allegations of diverting funds through associates, benami entities, acquiring properties, and concealing money abroad are still being verified as part of the ongoing investigation.
Complainant Side
Complainants allege Ganesh collected around Rs 33 crore from over 130 persons and diverted the money into other businesses, including excise auctions.
Credibility and investment promise
Accused Side
Ganesh's high-profile lavada auction bids and presence in the residential complex created an impression of financial credibility.
Complainant Side
Despite executing an agreement on non-judicial stamp paper, Ganesh neither paid the promised six per cent monthly returns nor returned the principal amount.
Key facts
- Accused
- Kondapalli Ganesh (Laddu Ganesh)
- Arresting Agency
- Cyberabad Economic Offences Wing (EOW) police
- Alleged Amount Collected
- Around Rs 33 crore
- Number of Investors
- More than 130 persons
- Promised Returns
- Six per cent per month, payable quarterly
- Complainant
- Sylvia Srinivas Reddy, 55, with husband's investment of Rs 31 lakh
- Additional Named Victims' Investment
- Rs 3.45 crore (Botcha Appala Naidu, C. Sri Krupa, G. Naga Harish, Samudrala Ravi Shanker, Samudrala Saritha)
- Notable Laddu Auction Bids
- Rs 29 lakh in 2024; record bid of Rs 51.07 lakh in 2025
Sources
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