The Bengaluru police Saturday arrested a former grocery chain owner for allegedly killing two of his friends after they refused to return money borrowed from him.
The accused has been identified as Ravi Prasad Reddy, 40, a resident of Vinayaknagar and native of Andhra Pradesh. Ravi Reddy allegedly murdered tea shop owner R Madesh on November 4. He then killed factory owner Balappa Reddy on November 6, within just 36 hours of the first murder.
How COVID-19 impacted the businessman
According to M Narayana, Deputy Commissioner of Police (Electronics City division), Ravi Reddy hailed from a prosperous family. “He is a native of Srisailam in Andhra Pradesh and was running a retail shop chain in Bengaluru,” he added.
Ravi Reddy was also involved in the wholesale vegetable business, the police said, and added that the Covid-19 pandemic ruined him financially.
A police officer said, “He had provided loans to as many as 60 persons, including Madesh and Balappa Reddy, and had also invested huge money in chit funds. But post-COVID-19, many of the people who took money either passed away or left the city, leaving him in crisis. On the other hand, he had to liquidate his assets… As they lost a house, Ravi Reddy moved to a rented house owned by Balappa, and his wife and children were staying with his uncle.”
The police officer said Ravi Reddy sought Madesh and Balappa Reddy’s help, and asked them to return the money they had borrowed from him before COVID-19.
The officer further said, “According to Ravi Reddy, he felt betrayed because he had given them money whenever they had asked. He was furious and decided to kidnap to extort money. He purchased an air pistol, knives, and a metal detector. On November 4, Ravi visited Madesh, who was constructing a house. Aware that Madesh would be alone, Ravi killed him.
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“For two days, none suspected Ravi Reddy behind the killing. Then, he decided to meet Balappa at his factory. He took him from there, stating that there was an attractive business deal. Ravi Reddy had borrowed a car from another friend, and as they both headed towards Hosur Road, he stopped the vehicle and demanded money. When Balappa refused, Ravi Reddy killed him using a knife. Later, he dumped the body in a forest area on the Hosur highway.”
Meanwhile, Balappa Reddy’s family members filed a missing person’s complaint and informed the police about the financial transactions with Ravi Reddy. By then, the family had also received a ransom call in which the caller (Ravi Reddy) had demanded Rs 2 crore.
Thereafter, Ravi Reddy was caught near his home on Saturday afternoon. Narayana said the accused was taken to a burial ground the same night to recover a weapon he had dumped there. “But at this point, he tried to attack a police officer and was shot in his leg,” Narayana added.