Gambler loses property, turns thief

HYDERABAD: Addicted to gambling, a landlord sold away nearly 50 acres in Guntur  and finally turned into a burglar to continue gambling. Thirty-eight- year-old Rayapati Venkat Rao is a na

Published: 10th March 2012 03:02 AM  |   Last Updated: 16th May 2012 06:32 PM   |  A+A-

HYDERABAD: Addicted to gambling, a landlord sold away nearly 50 acres in Guntur  and finally turned into a burglar to continue gambling. Thirty-eight- year-old Rayapati Venkat Rao is a native of Tallur village in Krosur mandal of Guntur district. ``He is a regular card player at the Country Club in the city and sold away 50 acres in Guntur and put the money in gambling,'' SR Nagar detective inspector A Gangadhar said.

He sold the 50 acres over a period of five years. Presently he is staying in Vijaypuri Colony in Guntur. 'Venkat Rao still frequents the Country Club and whenever he comes, he strikes at a house in either SR Nagar, Punjagutta or Banjara Hills,'' the inspector said. He committed eight day burglaries under SR Nagar police limits, four in Punjagutta and one under Banjara Hills limits. He committed 13  house burglaries since 2008 and pledged all the gold with gold finance institutions. Police recovered 127 grams diamond and gold ornaments and   Rs 1 lakh cash pertaining to five cases all worth Rs 20 lakh.  ``The stolen property pertaining to seven other cases is pledged in Muthoot finance, Mannappuram finance in Guntur and IIFL finance at Sattenapally. The property is worth Rs 30 lakh ,' 'the  police said. In one of the case, he broke into the house of YS Madhu Mohan Reddy in SR Nagar and stole gold and diamond ornaments worth Rs 25 lakh and mortgaged them in Muthoot finance at Guntur.

The property is intact with the institution. Venkat Rao was nabbed near Leelanagar opposite Country Club and further investigation is on.

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