Hyderabad businessman accused of ₹670-cr investment fraud targeting 7,400

Written by Falling Shares Intelligence, our automated newsroom, from the public sources listed below and live market data. Every figure is checked against that material before publication, but the story has not been reviewed by a human editor. Check the linked sources before relying on it, and report errors to info@fallingshares.com.

A Hyderabad businessman is accused of orchestrating a ₹670 crore investment fraud that affected approximately 7,400 investors, according to reports. Nanavath Bhupal Naik, described as a former mason, allegedly lured victims by promising monthly returns of 4%. Livemint reported the details of the case on Monday.

Alleged scheme details emerge

Nanavath Bhupal Naik is accused of running the investment fraud, which Livemint reported involved a total value of ₹670 crore. The scheme allegedly targeted around 7,400 individuals who were drawn in by the promise of high monthly yields.

According to the report, Naik, who previously worked as a mason, is the central figure in the allegations. The financial scale of the case suggests a widespread impact on the investor base involved in the scheme.

Source attribution and context

The details of the fraud were reported by Livemint on 9 November 2026. The publication described how the accused allegedly managed to attract such a large number of participants through the promised returns.

None of the reports reviewed by Falling Shares provided a reason for any specific market movement, as this is a fraud allegation rather than a listed company earnings or governance event. The story focuses on the criminal allegations against an individual.