Srinivasa Rao, the realtor who was kidnapped on Wednesday in Visakhapatnam, is accused in several cases in Vijayawada and other areas, according to City Police Commissioner Thrivikrama Varma. Addressing the media, Varma said Rao, a native of Rajamahendravaram, started a real estate brokerage firm with four others in 2019 and appointed agents.
Promising flats and plots at a low rate, the company, named MK Construction, through the agents, collected a huge amount from the people. With the construction activity coming to a halt, they shut down the office and absconded with the collected amount of Rs 3.36 crore. Srinivasa Rao, who was arrested in connection with the case and released later, joined a firm at Ravulapalem in the Konaseema area as a volunteer. He borrowed Rs 10,000 from Manikanta of the same company and failed to repay the amount.
Two months ago, he shifted to Visakhapatnam along with his wife Lakshmi and joined as an agent for a construction company. Against this backdrop, those who were cheated by Srinivasa Rao in 2019, including Manikanta, came in two cars and abducted Srinivasa Rao and his wife from Akkayyapalem under the IV-Town PS limits. When one of the vehicles on their way to Vijayawada took a halt at Kokkirapalli near Yellamanchili, the couple raised an alarm.
The panicked kidnappers left Lakshmi there and took away her husband. Following a complaint lodged by Lakshmi, the police intercepted the vehicles in East Godavari District and took four persons into custody while one of the accused was absconding. A cheque bounce and three cheating cases were registered against Srinivasa Rao in the past. Commissioner Varma said Srinivasa Rao might have been kidnapped for recovery of dues.
The accused who kidnapped the realtor from Visakhapatnam were identified as G Brahmayya, K Sai Nikhil, B Veera Manikanta, and S Pradeep Reddy. Sunny, the fifth person linked to this case, is absconding.
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