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Ramesh involved in three cases of monitory fraud: CID

Posted by on June 24, 2011 0 Comment

Hyderabad: Crime Investigation Department Additional Director General of Police SV Ramana Murthy on Friday said that film producer Singanamala Ramesh Babu, who was arrested in Chennai earlier in the day, is an accused, along with others, in three cases of fraud, intimidation and cheating, amounting to crores of Rupees.

Mr Ramana Murthi said that the first case is pertains to a fraud of Rs 14.69 crore fraud committed by the accused along with Bhanu Kiran (prime accused in Maddelacheruvu Suryanarayana Reddy murder case), while the second case pertains to the Video rights of the film ‘Komarampuli’, in which he cheated a video company of Rs 34.75 lakh, while the third case pertains to similar case of cheating and misappropriation.

The CID officer revealed that Ramesh Babu, along with his wife approached one B Vaijayanthi Reddy, and her husband for financial assistance for film production business, asserting that he was owner of a property admeasuring 9 acres 53 cents, located in Poonjeri village, Mahabalipuram Road, Kanchipuram district.

He obtained a loan of Rs 7.62 crore from Ms Vaijayanthi Reddy initially and another Rs 10.5 crore subsequently.

Ramesh repaid Rs 3.42 crore through registration of 3 flats in Hyderabad City, but has failed to repay the balance of Rs 14.69 crore, excluding interest.

Enquiries made by Ms Vaijayanthi revealed that the land near Mahabalipuram Road, Kanchipuram district has been shown by the accused as a security to several other persons from whom he obtained loans.

When she started pressing for Ramesh for repayment of the loan, he called her and her husband to Balaji Color Labs, Film Nagar, Hyderabad where he introduced them to Bhanu Kiran, said to be right hand person of Maddelacheruvu Suri and several other anti social elements.

They were threatened by Singanamalla Ramesh and Bhanu Kiran to forget about the money, lest they will be eliminated and they will physically harm them if they report at any police station.

Mr Ramana Murthy said that a CID team, on receiving information, proceeded to Chennai and arrested Ramesh on Friday. He had been absconding after issuing the threat against Ms Vaijayanthi and her husband.

Meanwhile, Ms Vaijayanthi demanded severe punishment for him.(INN)

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