HYDERABAD: A 39-year-old Andhra Pradesh police constable allegedly lost `1.99 crore in an investment fraud. The accused woman later died by suicide, and the money was allegedly diverted to her relatives.
The complainant, Shaik Vali of Kurnool 2nd Unit, has served in the police force since 2009 and has been posted at the residence of Andhra Pradesh Chief Minister N Chandrababu Naidu since 2017.
In July 2023 at Naidu’s residence, Addepally Lakshmi reportedly approached Vali, claiming she owned four acres of land in Mangalagiri, Guntur district, and sought funds at 2% interest, promising substantial returns after land conversion. Trusting her, he initially transferred `1 lakh in June 2023 and subsequently invested larger sums.
In 2024 and 2025, Lakshmi introduced him to others, including M Mallesh, encouraging further investments. Vali, Mallesh and others transferred a total of `1,99,11,300 through online transactions and cash.
Lakshmi also introduced persons claiming to be her husband, a real estate businessman and bank officials who allegedly assured investors of substantial fixed deposits in her name. When repayments were delayed, Vali and others confronted her family in July 2025, but the promised settlement did not materialise.
On November 10, 2025, Lakshmi allegedly died by suicide in Peddakakani. Vali alleged that the invested funds had been diverted to her sons and other relatives.
Based on his complaint, the CCS police registered a case against her husband, sons and others. An investigation is underway.