Ponzi scheme claims another life in Kamareddy

The deceased was identified as Mangalapali Lakshman of Posanipet village of Ramareddy mandal

Kamareddy: The lure of a quick buck has claimed another life in Kamareddy district. The victim of a ponzi scheme, Mangalapali Lakshman (41) reportedly ended his life by hanging himself, after making a tearful appeal on a video call to his son urging him to take care of his mother.

The incident happened on Saturday night, but came to light on Sunday. Incidentally, Lakshman had also lost money in yet another financial scheme called Beersheba chain scheme in which he invested lot of money. Lakshman and his wife Lakshmi live in Posanipet village of Ramareddy mandal and two sons who live in Kamareddy. Lakshman works as a private electrician and his wife Lakshmi works as a nurse in a private nursing home in Kamareddy.

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Some six months ago, Lakshmi got a message that she had won Rs 10 lakh in a lottery and to claim the prize money she was asked to pay money in some installments. Hoping that they would get Rs 10 lakh the couple paid the lottery company Rs 2.65 lakh

Later the couple were reportedly deceived in yet another chain scheme, Lakshman and Lakshmi joined the Beersheba chain system company through its agents who assured them that by paying Rs 30,000 they could earn Rs 1 lakh. They accumulated debts to the tune of Rs 4.65 lakh. As the couple was under tremendous pressure to clear the debts, Lakshman went to his native village Posanipet and had a video chat with his son and later hanged himself.

This is the second such incident in Kamareddy district. Recently another woman had committed suicide after she fell victim to the Beersheba chain system scheme.

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