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Heist money used to fund Sharmila's padayatra

Published: 10th July 2013 08:17 AM  |   Last Updated: 10th July 2013 08:17 AM   |  A+A-

Police on Tuesday arrested 11 persons, including the mastermind behind the theft of Rs 7.35 crore belonging to the SBI from their cash replenishment service provider here on June 23. Office coordinator of the service provider firm, Scientific Security Management (SSM), was killed in the heist.

The key accused, G Sridhar Reddy, a YSR Congress leader, reportedly used part of the money for party activities, including YSRC leader Sharmila’s padayatra in East Godavari.

He is also said to have purchased several moveable and immovable assets, including a building in Kakinada, reportedly for use as party office. According to TRK Murthy, Rajahmundry urban district superintendent of police, Sridhar Reddy (37) had taken a share of `3 crore from the stolen money.

Presenting the 11 arrested before the media, Murthy said Sridhar Reddy, along with 10 of his associates, was arrested by the police in Kakinada.

According to police, Sridhar Reddy, S Srinu, K Veera Venkateswara Rao and G Kurma Reddy killed SSM coordinator P Srinivas on June 23 and decamped with the cash. Police recovered property worth Rs 2.01 crore, including Rs 74 lakh cash, gold worth Rs 15.82 lakh, nine bikes, three cars and documents pertaining to assets worth Rs 95.76 lakh from the accused.

All the 11 are friends of the victim, P Srinivas and some of the accused are SSM employees.It is learnt that the entire Rs 7.5 crore was not robbed from the cash chest on June 23. The accused employees have been taking away cash from the chest. They hatched a plan to murder the security guard and take away whatever is there to make it look like the whole amount was robbed on that day. However, instead of the security guard, they killed Srinivas.

Sridhar Reddy had also purchased a pistol in Kolkata, which the police had seized from him.Daver Singh (23) of Prattipadu, K Rajesh (25) of Payakaraopeta, NJ Kumar (23) from Chattisgarh, D Satyanarayana Murthi(24) of Rajahmundry, P Dilip Reddy (23) of Dawleswaram, B Hema Magaraju (30) of Kakinada and G Prasad Reddy (31) of Rajahmundry are the other accused in the case.

Central zone deputy superintendent of police N Babji led the special team that nabbed the culprits.

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