A Hyderabad native working as a software engineer in the United States was allegedly cheated of ₹10.3 crore by a couple who promised huge returns through a fake casino investment scheme.
The victim, K. Karunakara Reddy from Humayun Nagar, reportedly came into contact with the accused — Mani Varaprasad and his wife Mani Nagamani — during a visit to Hyderabad in 2021.
According to available information, the couple was introduced to him through common acquaintances. They allegedly convinced him to invest in a proposed casino business, promising lucrative profits.
Believing their claims, Karunakara Reddy transferred money in multiple instalments between December 2021 and November 2022.
However, police said the accused neither started the promised business nor returned the invested money.
When the victim later tried to contact them, the couple allegedly began avoiding his calls and reportedly behaved rudely when confronted.
Suspecting that he had been cheated, Karunakara Reddy approached the Hyderabad Central Crime Station (CCS) and lodged a complaint.
Based on the complaint, police registered a case and launched an investigation.
During the probe, police also identified two more persons — Mudavat Venkateshwarlu Naik and Peddakurava Srisailam — for their alleged role in assisting the couple.
Further investigation is underway.
