Bengaluru double murder: How Rs 5 crore losses led bizman to kill his friends for money

BENGALURU: Former grocery store chain owner Ravi Prasad Reddy of Hebbagodi, arrested on charges of murdering two friends, had become a vegetable vendor after incurring a loss of around Rs 5 crore during the Covid-19 pandemic.Around 60 people to whom he lent money or with whom he had invested in chit funds, died or left the city during the pandemic, causing him a huge loss, police investigations have revealed.Reddy, 40, allegedly murdered tea shop owner R Madesh (41), who was also involved in the chit-fund business, and Balappa Reddy (61), who owned a metal fabrication factory — to rob them and demand ransom. Reddy was arrested from a bar close to his home Saturday afternoon.

The accused was shot at and injured in both knees when he tried to attack police personnel near a burial ground at Bommasandra, where he was taken for a spot investigation late Saturday night.Police picked up Reddy's two associates — Dhanush and Sateesh — for questioning as they accompanied him during Balappa's abduction on Nov 6. Reddy's elder sister, Sunanda, is also on the radar as she was allegedly in the same vehicle during the abduction.

Police are yet to question her."We intensified our investigation and questioned the bereaved family members about those with whom the two victims had financial dealings. This is how we zeroed in on the suspect. Special teams of CCB and Hebbagodi police were formed to nab the suspect," city police commissioner Seemanth Kumar Singh told TOI.The two murdered men were Reddy's close friends and he claimed to have lent them money earlier."But they refused to lend me money when I was in deep trouble. This made me develop hatred towards them," police quoted Reddy as saying. Cops are also investigating whether Reddy owed them any money.Reddy, from Srisailam in Andhra Pradesh, set up his chain of Happy Family Stores with help from his uncle. He earned good profits, lent money to others, and invested almost Rs 5 crore in chit funds, an investigating officer said.When the Covid-19 pandemic broke out, defaults by his debtors forced him to sell his house and a plot of land near Hebbagodi for Rs 2 crore. He also leased out his stores to his relatives. Despite these efforts, more financial losses compelled his wife and two children to live with his uncle, while Reddy moved to a small house rented from Balappa, one of the victims.To rebuild his life, Reddy set up a vegetable stall and brought Dhanush and Sateesh from Andhra Pradesh to help him with the business.Inspiration drawn from crime filmsAccording to Reddy, movies showing people kidnapping victims for ransom encouraged him to do so. He planned to kidnap the two men and release them after receiving ransom. He purchased an air pistol, a metal detector, and knives. Reddy told cops that he wanted to use the metal detector to find hidden treasures."Investigations revealed that Reddy hatched his conspiracy for around three months.

First, he targeted Madesh on Nov 4," deputy commissioner of police (Electronics City division) M Narayana told TOI.Reddy was aware that Madesh, who was constructing a house, had Rs 10 lakh in cash stashed there. "Knowing he would be alone in the under-construction building, I entered the house and threatened Madesh at knifepoint, demanding the money. But he resisted and shouted for help before running away. I chased him and attacked him with a knife.

Seeing some neighbours coming out, I sped away on my scooter," police quoted Reddy as saying.Reddy waited for two days and decided on his next move as nobody suspected him. This time, he drove an MUV of an advocate-friend to Balappa's factory. Saying he had a business deal to discuss, he made Balappa join him in the vehicle."He drove the MUV in the direction of Hosur and stopped at a desolate place. Then, he demanded money from Balappa who refused. In a fit of anger, Reddy attacked Balappa with the same knife he used in killing Madesh. Then, he brought the body back to his Hebbagodi residence, shifted it to his goods autorickshaw, and returned the MUV after removing stains. Then, Balappa's body was taken to the forest area near Hosur highway and dumped on the same night," an investigating officer said.