Rayalaseema’s gangsters too invested in ASI’s firm
Mohan Reddy developed links with goons of Rayalaseema in order to expand his operations
Karimnagar: It is learnt that not only top police officials of the state, but certain goons of Rayalaseema and IPS officers of various states invested huge amounts in the finance business operated by suspended ASI, B. Mohan Reddy for earning huge profits as unaccounted income.
The cop was arrested for allegedly forcing a school owner to commit suicide by harassing him for delaying repayment of a loan availed from his agency, on November 1. For instance Bhanu Kiran, the prime accused in the sensational killing of Maddela-cheruvu Suryanarayana Reddy alias Suri, a gang lord of Rayalaseema, put in about Rs 40 crore in the finance business.
Bhanu, who allegedly made most of the deals in the name of Suri, when the latter was serving life term in a car bomb blast case, had good relations with Mohan Reddy. So, he might have trusted the ASI and invested, said a source.
Mohan Reddy developed links with goons of Rayalaseema in order to expand his operations. He also purchased property in this region with profits registered in his finance firm. In this process, he might have come into contact with Bhanu Kiran, close aide of Suri. Bhanu Kiran is lodged in Cherlapalli jail for the last three years, following the murder of Suri.
Similarly, two IPS officers of north India invested several lakhs in the agency. Since many top police officials had links with the ASI, the IPS officers decided to rely on Mohan Reddy for investing their earnings. “Over a period of time, Mohan Reddy’s finance company had become a safe place for many officials and goons for hiding income generated through bribes. Thus, they could earn profits and evade income tax,” said a senior police official.
According to his modus operandi, Mohan Reddy would lend money at exorbitant rate of interests. Often, he registered property of his borrowers in the names of his henchmen and followers in order to avoid cases.
CID gathers 550 property documents
Sleuths of CID gathered documents of 550 properties, which were registered in the names of henchmen and followers of suspended ASI B. Mohan Reddy, from various sub-registrar offices across the district. Value of the properties is estimated to be Rs 350 crore.
It may be recalled that Mohan Reddy lends money to farmers, businessmen, public representatives and employees by transferring their assets to his henchmen and followers. Allegedly, he charges exorbitant rate of interest on loans. The sleuths recovered 431 documents from Karimnagar and 82 from Thimmapur sub-registrar’s office. A sum of 15 documents from of sub registrar office of Gangadhara and eight from Huzurabad.
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