Hyderabad: In a tragic turn of events, a father allegedly killed his three sons before taking his own life in Tangatur village, Shankarpally mandal of Ranga Reddy district, purportedly driven to despair after facing harassment from journalists for exposing his involvement in a bogus money laundering scheme.
The incident took place two weeks ago.
The prime suspect, Tirupathi Rao, has now been apprehended by law enforcement officials. Rao’s fraudulent money circulation scheme reportedly pushed the victim to take such drastic actions. Apart from serving as the CEO of the GSN Foundation based in Andhra Pradesh, a company accused of duping investors with promises of high returns on investments, Rao was allegedly the mastermind behind the scam.
Police investigations revealed that the accused initiated the money circulation scheme in 2022 using his father’s identity, establishing a website, gsnfoundation.com, where individuals could enroll in the scheme and refer others for a fee of Rs 600. Participants would receive a 10% commission for every new member they recruited, with additional bonuses for reaching specific recruitment milestones.
The victim, identified as Neerati Ravi, reportedly joined the scheme in December 2022, creating three separate IDs using his and his wife’s names. After paying Rs 500 for each ID, Ravi received commissions and subsequently encouraged others to join the program.
Ravi collected funds from local residents, amounting to approximately Rs 13 lakh, which he then forwarded to Tirupathi Rao as part of the scheme. However, when investors failed to receive their expected returns, they began demanding refunds from Ravi, leading to increased pressure and scrutiny.
Facing mounting harassment from local journalists threatening to expose his illicit activities, Ravi tragically ended his life, according to police reports. Three journalists were detained and subsequently arrested in connection with the case, while authorities continue to search for three other suspects who remain at large.
