The police have arrested four individuals, including Harikrishna Reddy, the superintendent of M/s Propcare Real Estate Company, for allegedly misappropriating ₹17 crore from the company. Among the accused is Karunanidhi, who, along with others, transferred funds online using the company’s banking ID and password.
An investigation was launched after company director Methuku Srinivas filed a complaint with the Central Crime Branch (CCB). The accused had transferred small amounts to over 100 pub owners and managers, later withdrawing the money for personal use, including hosting parties at various pubs. Police have seized gold ornaments and house documents from Harikrishna Reddy.
The probe has revealed that most of the funds were transferred to pubs in Goa and Mumbai. Authorities are working to confiscate the money and further investigate the pub owners involved. The accused face charges of conspiracy and embezzlement.