A significant financial scam unfolded in Miryalaguda where people fell victim to a fraudulent lucky draw scheme called RK Enterprises. The scheme was run by K Ramesh, K Koteshwar Rao, and Bachalakuri Srinivas. They convinced individuals to pay a Rs 1,000 monthly fee with the promise of winning valuable prizes in monthly draws.
The scheme began in October 2023 and continued until January 2025, involving around 2,600 members from Miryalaguda, Garidepally, Nereducharla in the Suryapet district, and nearby villages in Andhra Pradesh. Participants expected high-value rewards, including a car as a bumper prize in the final draw.
Over the span of 15 months, victims paid a total of about Rs 4 crore. Initially, a few winners received prizes worth Rs 15,000, but the scheme abruptly stopped without any notice, and the promised bumper draw never occurred.
When members sought refunds or answers, they found the organizers had disappeared. Morugu Venkatamma from Kalalwada, Miryalaguda, reported the fraud to the One Town Police. The complaint named the agent who signed her up, Mandari Malleshwari, and the main organizer, Ramesh.
Following this, numerous other victims contacted the police. It’s reported that 900 victims are from Miryalaguda alone, with many others affected throughout the region. Circle Inspector Moteeram confirmed that a case has been filed and an investigation is underway to find the culprits and recover the victims’ money.