NRI murdered in Hyderabad for not paying Rs 4 crore loan: Policehttps://indianexpress.com/article/india/nri-murdered-in-hyderabad-for-not-paying-rs-4-crore-loan-5571798/

NRI murdered in Hyderabad for not paying Rs 4 crore loan: Police

The accused had confined the businessman for nearly 30 hours, asking him to call his friends to arrange for the money. When only Rs 6 lakh could be arranged, the accused assaulted him during which he fell down and died

NRI murdered in Hyderabad for not paying Rs 4 crore loan
Two persons, Rakesh Reddy, from whom Jayaram had taken the loan, and Reddy’s watchman have been arrested for the murder, reported PTI.

An NRI businessman, whose body was found on a highway in Andhra Pradesh’s Krishna district, was murdered as he could not repay a loan of Rs 4.5 crore that he had taken from a local businessman, police said on Wednesday. The Andhra Police has now transferred the case to Hyderabad police after investigations revealed that the US-based businessman, Chigurupati Jayaram, was killed in a house in Jubilee Hills in the city.

Two persons, Rakesh Reddy, from whom Jayaram had taken the loan, and Reddy’s watchman have been arrested for the murder, reported PTI.

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According to Sarvashresth Tripathi, Superintendent of Police, Krishna district, Jayaram, who lives in Florida with his family, had borrowed the money about a year ago from Reddy. He wasn’t returning the money and had even stopped answering Reddy’s calls.

When Jayaram arrived in Hyderabad a month ago, Reddy lured the latter to his house in Jubilee Hills by messaging him on phone using a woman’s name and display picture and posing as his former employee.

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When Jayaram went to the house on January 30, Reddy demanded his money. The latter, however, claimed he was bankrupt and had no money.

Reddy then confined Jayaram in the house for nearly 30 hours, asking him to call his friends to arrange for the money. When Jayaram could manage only Rs 6 lakh, an enraged Reddy assaulted him during which he fell down and died, police said. The accused then shifted the body to Jayaram’s Maruti Ciaz with the help of his watchman and left the car on a highway near Nandigama

The police gathered clues from the CCTV footage from different toll gates on the Hyderabad-Vijayawada highway, reported news agency IANS. Reddy, who was driving the car, had also stopped at a wine shop at Nandigama to buy liquor. Empty liquor bottles were also later found in the car, the report added.

The police have also transferred two Telangana IPS officers –Inspector of Nallakunta Police Station I Srinivas and ACP (Ibrahimpatnam) S Malla Reddy — as the probe revealed that Reddy was in touch with them after committing the murder. Both the officers, have, however, denied knowing anything about the crime and said that they only answered the calls because Reddy was an acquaintance.