Hyderabad: Sanathnagar police arrested K. Ramachandra Reddy, a 30-year-old realtor, for allegedly cheating G. Venkat Reddy, a businessman, of nearly Rs 25 lakh, which he took from the latter for a land deal in Jubilee Hills. Police said Ramachandra Reddy had met Venkat Reddy through a friend and had offered to make him a partner in a land that he was buying in Jubilee Hills from a top official. Venkat Reddy paid him Rs 24,62,500 after he was shown the land’s papers.

Later, it turned out that the plot did not exist. Ramachandra Reddy had forged the land’s papers. He had also threatened Venkat Reddy him with dire consequences. Sanathnagar police Inspector E. Venkat Reddy said, Ramachandra Reddy had already been accused in a cheating case in Golconda, where he had taken money from a youth promising to get him a job.