Three held for cheating real estate firm in Hyderabad

The arrested were identified as N Naveen Reddy (25) from Abdullapurmet, K Amith Reddy (35), and B Rama Krishna (45), both from Palasa in Srikakulam district of Andhra Pradesh

By   |  Published: 8th Apr 2021  11:16 pm

Hyderabad: The Hayathnagar police caught the assistant manager of a real estate firm along with two of his uncles on charges of cheating the management and stealing cash of Rs 50.5 lakh. Police recovered cash of Rs 28.70 lakh from them. The arrested were identified as N Naveen Reddy (25) from Abdullapurmet, K Amith Reddy (35), and B Rama Krishna (45), both from Palasa in Srikakulam district of Andhra Pradesh.

According to the police, Naveen Reddy earlier worked as an assistant manager for a private bank but lost the job. He was addicted to online gambling and had lost huge amounts.

He joined the infra and real estate company project at Peddamberpet in June last year. On March 23, Naveen Reddy was given Rs 50.5 lakh by the management to keep in safe custody and handover the next morning. However, he fled with cash and spent about 12.2 lakh on online gambling.

“His superiors from the office kept calling him, but he did not answer and switched off the mobile phone. He sought the help of his uncles Amith Reddy and Rama Krishna to conceal the money,” said Mahesh Bhagwat, Rachakonda Police Commissioner. Based on the complaint from the management, the Hayathnagar police tracked and nabbed the suspects.


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