Telangana Man Kills Brother For ₹4.14 Crore Insurance Payout

KARIMNAGAR: The police officials arrested three persons, including a prime suspect, for brutally murdering a man and attempting to stage the killing as a road accident to claim Rs 4.14 crore of insurance money in Karimnagar district.

Disclosing facts to the media, commissioner of police Gouse Alam said the three accused were identified as Mamidi Naresh, 30, Namundla Rakesh, 28, and Munigala Pradeep, 29. All the three were residents of Ramadagu mandal and the victim was identified as Mamidi Venkatesh, 37, the older brother of Naresh, who was noted to have low mental maturity.

The conspiracy was masterminded by the victim’s younger brother and main accused, Mamidi Naresh, who was heavily burdened by debt totalling around 1.50 crore due to losses in business ventures and the stock market, including EMIs for his tipper vehicles.

To overcome his financial crisis, Naresh hatched a sinister plot. He took out multiple life insurance policies worth ₹4.14 crore on his older brother Venkatesh with the intention to collect the insurance money and have the associated gold loan of ₹20 lakh waived upon his brother’s death.

Naresh took help from his friend Rakesh and the tipper driver, Pradeep, on the plot. The plan was executed on the night of November 29. Pradeep brought the loaded tipper to a spot near a petrol pump, faking a breakdown. Naresh sent Venkatesh to the tipper under the pretense of needing help to fix a jack beneath the vehicle. While Venkatesh was using his cellphone light to turn the jack, Naresh personally drove the tipper over his brother, killing him instantly. He then told Pradeep to flee and tried to pass the incident off as a fatal road accident.

While Naresh initially told his family and the police that the death was caused by a truck driver’s accident, his nephew, who was the minor to his grandfather Mamidi Narsaiah, said that Naresh himself was driving the tipper when the accident occurred. Based on this shocking information, Narsaiah immediately filed a complaint with the police.

The case was registered under the Ramadagu police station limits, and upon thorough investigation, they recovered a mobile phone containing a video of the murder conspiracy discussions along with the insurance policies and bank books. Following a detailed examination of the body and the scene and further interrogation, the case has been solved, and the three accused have been remanded.