Trader cheats 73 persons of Rs 25 crore after taking loans

KHAMMAM: A fertilizer dealer-cum-real estate agent allegedly cheated 73 people including farmers, government employees and agricultural labourers in Nagulavancha under Chintakani mandal of a whopping Rs 25 crore.

The accused Vankayalapati Manmatha Rao, a native of Nagulavancha, took loans from 73 people for the last seven years and did neither repay nor respond to the phone calls of victims. Manmatha Rao, a landlord in Nagulavancha, started fertilizer, paint and real estate businesses in Khammam, Suryapet and Hyderabad.

Many unsuspecting farmers, who believed him as a gentleman and successful businessman, gave whatever money they had. A farmer, Meduri Veeraiah Chowdary gave him Rs 1.5 crore followed by Nelluri Ramesh Rs 50 lakh, Ambati Anand Rao Rs 50 lakh, Chinda Sankar Raju Rs 40 lakh, Nannaka Nageswara Rao Rs 30 lakh, Ambati Rambabu Rs 30 lakh, Yelamaddi Ramesh Rs 20 lakh and Venkateswara Rao Rs 13 lakh.

Even agricultural labourers gave money to Manmatha Rao. T Venkanna, a farm labourer gave Rs 7 lakh followed by C. Mariadas Rs 6 lakh, Swamydas Rs 4 lakh, G. Balu Rs 4 lakh, Battu Laxmi Rs 4 lakh, Yesu Nagamma Rs 3 lakh, K. Sanjiva Rao, Rs 3 lakh and K. V. Narasamma and Sulochana Rs 1 lakh each.

Ambati Venkateswarlu said the farmers thought Manmadha Rao was a perfect businessman and would not cheat anybody. There are also government employees in the list, who were cheated by the accused. Venkateswarlu requested the police to do justice to them by nabbing the businessman.

These persons lodged a complaint with the commissioner of police Vishnu Warrior, who assigned additional DCP Sabarish as investigation officer in the case.