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Casino Hyderabad – The incident took place in Rangareddy district near Hyderabad. Srinivas Redy’s family is penniless after their youngest son lost all his money while playing online games on his mobile phone.
Hyderabad: In a shocking incident, a farmer lost Rs 92 lakh he had received as compensation for land acquired by the government while his son was gambling in an online casino.
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Srinivas Reddy’s family has been reduced to penniless after his youngest son lost all his money while playing online games on his mobile phone.
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Srinivas Reddy’s 10-acre land in Sitarampur of Shahbad Mandal was recently acquired by the government for the Telangana State Industrial Infrastructure Corporation (TSIIC). He received a compensation of Rs 1.05 crore at the rate of Rs 10.5 lakh per acre.
With this money, he wanted to buy half an acre of land in Malapur in Shamshabad Mandal on the outskirts of Hyderabad. He had entered into an agreement for 70 lakhs and paid 20 lakhs as advance. Of the remaining Rs 85 lakh, Srinivas Reddy deposited Rs 42.5 lakh in his bank account and the remaining in his wife Vijayalaxmi’s account.
The couple’s younger brother, Harshvardhan Reddy, a first-year student at Nizam College in Hyderabad, transferred the money from his father’s account to his account and told him he would pay it to the landowner. The 19-year-old girl told her mother the same and made her withdraw the money from her account.
The young man, who was used to playing online games, started investing the money in installments in online casinos. After a few weeks he lost all the money.
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When his parents asked about the money, he admitted that he had gambled it away. The couple and their eldest son Surpal Reddy, a B Tech student, were shocked.
Srinivas Reddy contacted the cyber crime police of the Cyberabad Police Commissionerate to help them recover the money, which was the only source of support for the family. The unusually large amount of money paid to actors for casino endorsements led the Enforcement Directorate to investigate the “business” and its managers.
Properties of two casino promoters in Hyderabad were raided by the Enforcement Directorate to check alleged hawala activities. The two men, Chikoti Praveen and Madhav Reddy, claim that their casino business is legitimate.
Some high-level financial transactions may have gone through the hawala route, sources in the enforcement directorate said. Hawala transaction refers to financial crime where money changes hands without entering the formal banking system.
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Mr Praveen, whose social media accounts are filled with images of lavish lifestyles, from posing with exotic animals to parties with Bollywood stars, used influential connections to promote his casino business, investigators said.
The investigative agency raided at least eight properties of casino promoters. The two are accused of violating the provisions of the Foreign Exchange Management Act, or FEMA.
The two allegedly accepted casino bets on behalf of Indians at Nepal’s Mechi Crown Hotel and helped transfer bets to the casino. “It is possible that a large amount of gambling was organized for the Indians for the security of the neighboring country,” said one official on condition of anonymity.
Mr Praveen is said to charge anywhere between Rs 5 lakh and Rs 10 lakh per person for the so-called ‘four-day package’.
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Most of the customers are from Andhra Pradesh and Telangana. The Directorate of Criminal Enforcement became aware of the alleged money laundering between June 10 and 13.
Investigators, while analyzing WhatsApp group chats and Mr. Praveen, they found that they met the names of three ministers, 15 MPs and 250 other customers, some of them gold traders.
Former Andhra Pradesh minister Balineni Srinivas Reddy said he frequented casinos and even admitted to gambling and playing cards, but denied any connection with Mr Praveen or his alleged hawala deals.
Telangana Labor Minister Mala Reddy, who runs several engineering and medical colleges, said she did not know how the MLA sticker given to her was found on the car of casino promoter Madhav Reddy. He also denied any relationship with Mr. Praveen.
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The casino promoters allegedly took their VIP customers to Goa, Nepal and Indonesia and charged them between Rs 5 lakh and Rs 15 lakh.
The names of the actors promoting Mr. Casino’s adventures. Praveen was on his mobile phone contacts, investigators said. Mr. Praveen has also shared his pictures with politicians and actors.
The forest department also raided Mr. Praveen in Telangana’s Kadtal region to check if he was breeding endangered or protected animals in captivity while posting several pictures on his Instagram account with reptiles. Officials said they found dozens of exotic animals on his farm.
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