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Dailymiorror.News, Lucknow, November 24th, 2024: In a shocking revelation, Nagi Reddy and four of his associates-Muskan Gulistan, Birendar Dubey, AK Tiwari, and Brajesh Kumar-are accused of orchestrating a massive fraud and blackmail scheme, embezzling ₹80 crore from the Shreya Group of Companies. An FIR has been filed against the group, uncovering what appears to be a meticulously planned financial scam.
Chairman’s Personal Funds Misused
The fraudulent activities primarily targeted the personal accounts of the company’s Chairman, Shri Hemant Kumar Rai. Investigations reveal that the accused manipulated the chairman’s goodwill by fabricating personal emergencies and persuading him to lend funds under false pretenses, such as claims of home reconstruction and other fabricated needs.
When the chairman requested repayment, the accused not only refused but also resorted to blackmail, threatening to tarnish his reputation. They further escalated their betrayal by demanding additional funds through coercion and intimidation.
Financial Fraud Unveiled
As per the FIR lodged at Hazratganj Police Station in Lucknow, the accused misappropriated ₹80 crore through fraudulent financial transactions, manipulating company accounts and siphoning off funds through dubious methods. The stolen money was eventually laundered, and the perpetrators fled with the ill-gotten assets.
Attempts to Obstruct Justice
Adding insult to injury, Nagi Reddy reportedly filed a false application against senior Shreya Group leader, P. Maheshwar. Acting on this baseless complaint, Maheshwar was unlawfully detained late at night at the 3 Town Police Station in Kurnool, Andhra Pradesh. This move is seen as a deliberate attempt to intimidate the Shreya Group’s leadership and hinder recovery efforts.
Shreya Group’s Response
The Shreya Group of Companies has vehemently denied the allegations levied by Nagi Reddy and his associates, calling them an outright fabrication aimed at diverting attention.
A company spokesperson stated:
“Nagi Reddy and his team have not only defrauded the Shreya Group of ₹80 crore but have also attempted to derail justice with false accusations. We are determined to recover the stolen funds and hold the perpetrators accountable.”
Police Investigation in Full Swing
The Lucknow police have confirmed the FIR and initiated a comprehensive investigation into the case. Charges against the accused include criminal breach of trust, conspiracy, and financial fraud under various sections of the Indian Penal Code (IPC). Coordination with Kurnool police is underway to trace the accused and gather critical evidence.
A Fight for Justice
As the investigation progresses, the Shreya Group has called for swift action from law enforcement to bring the accused to justice. With ₹80 crore and the company’s integrity at stake, there is immense pressure to resolve the case promptly.
This case highlights the urgent need for stronger safeguards against corporate fraud, emphasizing accountability and the protection of organizations from such calculated betrayals.
