Hyderabad: Alleging that he was duped by a Mumbai-based businessman and his associate of Rs 2.7 crore, a 34-year-old victim from Begumpet has lodged a complaint with the Central Crime Station (CCS). The complainant alleged that the accused lured him to invest by offering him a franchise of their company with an assurance to supply iPhones and gold at less than the market price.The complainant, T Vijay Sai Krishna Goud, a businessman from Begumpet, alleged that in Jan 2024, the accused, Milansinh Vanath, came into contact through acquaintances and introduced himself as a businessman operating a mobile phone, electronics and gold trading business under ‘One Stop Solutions’ from Surat and Mumbai.“Vanath claimed that he could supply iPhones and gold at prices lower than the prevailing market rates. He also offered franchise opportunities for his business, One Stop Solutions, with assured profits. To gain my confidence, he showed large quantities of iPhones, electronic goods and gold stock through videos and video calls. His associate, Darshan Chowhan, played an active role in the discussions,” the complainant alleged.Believing the representations and assurances of the duo, Vijay initially invested small amounts and the accused returned the same promptly. By promising franchise rights and supply of iPhones and gold at less than market price, the duo made Vijay invest huge sums. “I transferred Rs 2.7 crore to the bank accounts provided by the accused towards investment in the business between Jan 2024 and Sept 2025. The accused continued to assure me that the promised goods, franchise benefits and profits will be delivered shortly. But no genuine business activity was ever commenced and they did not even return the invested amount,” the victim told police.After unsuccessfully waiting for a response from the accused, the victim lodged a complaint on July 4. On his complaint, CCS police registered a case under Sections 318(4) (cheating), read with 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS) against Vanath, Chowhan and others. “We are in the process of collecting evidence. After the preliminary probe, we will initiate appropriate legal action based on the evidence,” a CCS officer said.
