Hyderabad: B Janardhan Reddy, an 81-year-old retired Additional Superintendent of Police (ASP), was allegedly defrauded of Rs 14.70 crore by a conman named Rakesh Manyam and his associates.
Over the past 15 months, Rakesh collected the money from Reddy, his family members, and relatives under the pretext of investing in real estate ventures.
Reddy had known Rakesh and his family through common friends since February 2023. Rakesh induced Reddy into the real estate business, promising high returns.
However, he did not pay any returns to Reddy. After repeated requests, Rakesh gave two cheques towards the payment. He then left the city on July 10, informing that his sister had died, but never returned and has been absconding since then.
The case was initially registered by Narsingi police of Cyberabad and later transferred to the Central Crime Station (CCS), Hyderabad due to jurisdiction issues.
