Hyderabad: Rakesh Reddy, who is being investigated along with others in the murder of NRI and Coastal Bank Director, Chigurupati Jayaram, is turning out to be a key figure in the case, according to the investigating team. Police are probing the role of Rakesh Reddy, known to have been a former boyfriend of Shikha Choudary, niece of the deceased.
Police have also revealed that Rakesh Reddy was reportedly questioned in other cases in the past, including a case related to prostitution involving an actress. It is learnt that Rakesh Reddy was earlier arrested in an extortion case in which he was accused of collecting Rs. 80 lakhs forcibly from a businessman in the name of the Kukatpally MLA.
Rakesh Reddy, who is known to be associated with a political party, is also accused of reportedly having collected money from candidates aspiring to contest in the Telangana assembly polls, promising to arrange them party tickets.
Police say that Rakesh, a smooth talker, was involved in many shady deals. It is learnt that he was leading a luxurious lifestyle, living in a rented house in the posh Jubilee Hills area of Hyderabad. It is in this house, police suspect, Jayaram was held captive. As a part of the ongoing investigation, cops are said to have searched Rakesh Reddy's house in Jubilee Hills.
It is believed that Shikha Choudary may have got conned by the seemingly suave side of Rakesh. Police are focusing their investigation on how Rakesh Reddy could have earned such huge amounts as to give Rs. 4.5 crores to Jayaram as loan. Police say that they will complete the probe and bring the culprits before the media soon. They are also likely to establish the exact role of Rakesh Reddy in this case.