HYDERABAD : Over a fortnight after a father killed his three sons and died by suicide at Tangatur village in Shankarpally mandal, the police have arrested the prime accused, Tirupathi Rao, who ran the fake money circulation scheme that eventually forced the victim to take the extreme step.
Tirupathi Rao, who is a driver by profession, is also the head of Andhra Pradesh-based GSN Foundation, the company that promised high returns on investment to people but cheated them in the end.
After arresting Tirupathi Rao at Vijayanagaram, the police revealed that the accused had started the money circulation scheme in 2022 under his father’s name. He created a website – gsnfoundation.com – wherein one will have to pay Rs 600 to join the scheme and share the link to one other individual. If the second person joins the scheme, the first member will receive a commission of 10%. “Suppose, 16 members join after you, you will get Rs 750. Similarly, if there are 500 members joining the scheme, you will get Rs 15,500,” the police explained.
The victim, Neerati Ravi, got acquainted with Tirupathi Rao and joined the scheme in December 2022. After joining the scheme, he created three IDs in his name and his wife’s name at the rate of Rs 500 per ID. He received the commission and then encouraged others to join the scheme too.
In this manner, Ravi collected money from the villagers and sent about Rs 13 lakh to Tirupathi Rao as part of the scheme, the police revealed. When people did not receive their due returns, they started approaching Ravi’s house, asking him to repay them.
Meanwhile, local reporters threatened to expose his scheme. Unable to bear the harassment, Ravi died by suicide, the police said. Previously, the police arrested and remanded three reporters in the case. The police are in search of three other accused, who are absconding.