Rakesh Reddy and friends killed Chigurupati Jayaram to extort money

HYDERABAD:  The Hyderabad police, who are investigating businessman Chigurupati Jayaram’s murder case, are understood to have come to a conclusion that the key accused Rakesh Reddy and his friends murdered Jayaram him in a bid to extort money from him.  

Further, it was also reported that Rakesh Reddy, who claimed before the Andhra Pradesh police that he murdered Jayaram for `4.5 crore hand loan he gave to to Jayaram, was false and Rakesh Reddy wanted to divert the case and the investigators. After questioning Rakesh Reddy and his associate for 11 days based on court directions, the city police would produce the accused before the court. Earlier, police took the accused into their custody for three days and later court granted permission for them to question him for eight more days. 

According to sources, the investigators questioned a political leader for his alleged links with Rakesh Reddy. Based on the phone call data of Rakesh Reddy, police  questioned more than 60 persons and collected clues and evidences from witnesses. It was reported that police are likely to register cases against three more friends of Rakesh Reddy and take action against them.