The police have arrested financier Rakesh Reddy and driver Srinivas for their alleged involvement in the murder of NRI businessman Chigurupati Jayaram. The accused have reportedly confessed to the crime.
According to police, Rakesh Reddy who helped Jayaram on several occasions in settling financial matters allegedly tracked the latter’s movements . He allegedly murdered the NRI businessman at a villa, located on Road No.10 of Jubilee Hills, in Hyderabad.
Financial issue
Jayaram was found dead in his car near Nandigama on January 31. “Rakesh Reddy, with the help of Srinivas, allegedly killed Jayaram over financial matter on January 30,” SP Sarvasreshta Tripathi said. The NRI, he said, borrowed about ₹5.8 crore from Rakesh Reddy, but failed to repay it. Jayaram was not responding to the financier’s phone calls for few days, which had annoyed him.
A few year’s ago, Jayaram introduced Ms. Chowdary to Rakesh and both became friends. However, they were not in touch for the last few months, the SP said. Rakesh Reddy allegedly arranged a person to track the movements of Jayaram, in Hyderabad. He also created a social media group on the name of one Reena, who allegedly invited Jayaram to come to a villa at Jubilee Hills. “Rakesh Reddy detained Jayaram and insisted to repay the loan. After heated arguments, he beat up Jayaram to death. Later, he pulled the body into the car with the help of Srinivas, abandoned the body at Nandigama,” the SP explained. ““The role of Ms. Chowdary was not established ,” the SP added.