Hyderabad: In a shocking revelation, a brother and sister duo, Vakati Ravichandra Reddy (29) and his sister Chandana Reddy, also known as Yamini or Soumya (27), have been exposed as fraudsters, accused of cheating people to the tune of crores of rupees. Both under 30, have led a lavish lifestyle funded by their deceitful activities, prompting a widespread police hunt across Telangana, Andhra Pradesh, Karnataka and West Bengal.
Unveiling the fraud...
The fraudulent activities of Ravichandra Reddy and Chandana Reddy came to light following their recent kidnapping in Jubilee Hills. Investigations uncovered a series of deceitful schemes orchestrated by the siblings. Ravichandra Reddy allegedly hired 1,200 employees through backdoor entries into his company and later fired them without paying their wages, claiming they were not performing their duties properly. This led to 115 complaints being filed against him at the Rayadurgam Police Station
Further investigations revealed that a cheque worth crores donated by Ravichandra Reddy to a temple in Andhra Pradesh, had bounced, adding another case to his growing list of fraud charges. Ravichandra Reddy falsely presented himself as a director in more than 25 companies, convincing employees and others that he was in the service sector, allegedly doing business worth 2.5 billion as per a Forbes report. His extravagant lifestyle included frequent trips to Sri Lanka, while his sister often travelled to Dubai for similar indulgences.
Lavish but deceptive lifestyle...
Ravichandra Reddy's house in Jubilee Hills has been rented for Rs 2.50 lakhs per month and has three special breed dogs, with the rent unpaid for three months. His involvement in an Rs 800 crore scam in West Bengal has also caught the attention of the police.
Chandana Reddy's frauds...
Chandana Reddy, under various aliases, has been implicated in multiple job frauds. In 2023, three complaints were registered against her in Madhapur for cheating people in the name of job opportunities. She was found to have defrauded a company in Bengaluru of Rs 12 crore and another in Vijayawada of Rs 15 crore.
During the recent Lok Sabha elections, Chandana Reddy contested as the Nandyala MP candidate for the Liberation Congress Party. Her extravagant campaign included renting six Fortuner cars, hiring 30 bouncers and employing over 150 people from Gigliz company to file the nomination.
Ongoing investigation...
The multi-state police investigation continues to uncover more details about the siblings' fraudulent activities. Authorities from Telangana, Andhra Pradesh, Karnataka and West Bengal are collaborating to locate and apprehend the absconding brother and sister, aiming to bring them to justice for their frauds.
Read more: Two Cheated Of Over Rs 3 Crore In Stock Market Fraud In Telangana
