Hyderabad engineer duped of ₹10.30 crore in casino scam
HYDERABAD: A Hyderabad-based software engineer working in the United States was allegedly cheated of ₹10.30 crore by a couple who promised high returns through a casino business investment.
Police registered a case against four persons after the victim approached the Central Crime Station (CCS).
Couple collect funds over nearly one year
Karunakara Reddy, a resident of Humayunnagar, met Mani Varaprasad and his wife Mani Nagamani through common contacts during a visit to the city in 2021.
The couple explained an investment proposal under a casino commercial business and assured high profits. Between December 2021 and November 2022, they collected ₹10.30 crore from him in phases.
Business not started, accused stop responding
Despite repeated assurances of returns, the company was never launched. When Karunakara Reddy sought updates, the couple stopped responding. Police said they behaved rudely when questioned.
Realising he had been cheated, the victim approached the police.
During the inquiry, police found that Mudavath Venkateshwarlu Naik and Peddakurava Srisailam had assisted the couple. A case has been registered against all four.
