Hyderabad techie in US duped of Rs 10.3 crore in fake casino investment scam

A Hyderabad native working in the United States was allegedly cheated of Rs 10.3 crore by a couple who promised high returns through a fake casino venture. Police registered a case and are probing the role of two more suspects.

Hyderabad: A city native currently working as a software engineer in the United States was allegedly cheated of Rs 10.3 crore by a couple who promised high returns through a fictitious casino business.

The complainant, K Karunakara Reddy from Humayun Nagar, came into contact with the suspects identified as Mani Varaprasad and his wife Mani Nagamani during a visit to the city in 2021.

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As per information available, the duo, introduced through acquaintances, reportedly persuaded him to invest in a proposed casino venture, assuring lucrative profits.

Trusting their claims, Karunakara Reddy transferred funds in multiple instalments between December 2021 and November 2022. However, the suspects neither launched the business nor returned the investment.

Police said the couple later avoided the complainant’s calls and allegedly behaved rudely when confronted.

Suspecting fraud, Karunakara Reddy approached the Hyderabad Central Crime Station police and lodged a complaint. Based on a complaint, a case was booked and being investigated.

During the investigation, officials have identified two more individuals Mudavat Venkateshwarlu Naik and Peddakurava Srisailam for their alleged role in assisting the couple.

Further investigation is in progress.