In a shocking incident in Tirupati district, a five-member gang allegedly trapped and duped a local trader of ₹14 lakh near Yerpedu. The victim, Ravichandra Reddy, a resident of Vellurupadu village in Tada mandal, was approached by the conmen who promised to triple his investment.
How the Fraud Unfolded
Believing the gang's promises of high returns, Ravichandra Reddy decided to invest ₹14 lakh. Following their instructions, he met them near Merlapaka in Yerpedu mandal. The gang asked him to get into their car and subsequently abducted him. Inside the vehicle, they severely thrashed him, forcibly took the money, and threw him out near R Mallavaram village.
Police Action and Arrests
Based on a complaint lodged by the victim, Yerpedu police registered a case and acted swiftly. Two suspects, identified as Srinivasulu from Chillakur and Gunasekhar from Jeevakona, were taken into custody for questioning. Police are on the lookout for three other accused, including a woman, who are absconding after the incident.
This incident highlights the need for caution against fraudulent investment schemes promising unrealistic returns. Authorities urge the public to verify such offers and report suspicious activities.
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