Tirupati police bust money-doubling gang; arrest 12

Tirupati: Twelve persons including three women were arrested by the MR Palle police on Thursday on the charge of swindling Rs 35 lakh from a realtor on a promise that his money would be doubled through a technique called 'rice pulling'.

The police recovered Rs 31.72 lakh and seized two four wheelers, five bullets, one revolver, four mobile phones and two knives from the accused.

The arrested were VRK Krishna Reddy (35), G Manjula (40), C Nagamani (33), I Lakshmikantham (38), M Venkata Nagaraju (28), K Sai Charan (22), M Javeed (25), B Karthik (23). S Nanda Kumar (22), G Hemanth (20) and Sheik Ameen (22), from different parts of AP, Tamil Nadu and Karnataka.

Four others -- Veera Brahmam, Ramesh Sai Reddy, Bhaskar and Vinay -- were at large.

SP Parameswara Reddy said the victim, K Shankar of Thurpu Gudem in Choutuppal mandal of Yadadri Bhuvanagiri district in Telangana, fell in the gang’s trap. The accused promised to double his money through the shady ‘rice pulling’ technique. Shankar brought `35 lakh to Tirupati on November 3 and contacted the accused.

The accused had asked Shankar to come to Dwarka hotel near the Chandragiri-Renigunta 150 by-pass road along with the cash. Once the complainant reached there, the accused sprinkled chilli powder on a man carrying the money bag inside the complainant’s car. The accused threatened to kill him with weapons when he refused to hand over the bag.

The accused snatched the bag and sped away with the cash, the SP said, adding, “The women members in the gang persuaded Shankar to bring the cash near the private hotel on the city outskirts.”

The police registered a case based on Shankar's complaint.

On Thursday, police arrested seven suspects near Chandragiri fort. After questioning them, the police laid their hands on main accused Krishna Reddy and recovered Rs 31.72 lakh stolen cash from him.