Horse race betting racket busted in Hyderabad; four held, Rs 8.34 crore transactions under probe
The accused — identified as Thokala Nagesh, Borra Venkaiah Chowdhary, Challa Ramesh Babu, and D Sunil — were actively involved in organising the betting operation.
The key accused, Nagesh, hails from Old Guntur in Andhra Pradesh. A graduate from Mahaveer College, Nagarjuna University, he previously worked at Hewlett-Packard (HP) in Chennai. During his stay there, he developed an addiction to betting on horse races.
In 2020, due to a recession and a personal health crisis, Nagesh moved to Hyderabad, where he met M Rajesh Kumar and Venkat Chowdary from Vijayawada. With their assistance, he ventured into illegal horse race betting.
After splitting from his associates, Nagesh began independently organising betting operations from rented accommodations across Hyderabad. In 2024, he shifted to Tirumala Enclave, Dammaiguda, and established a betting network under the guise of 'Shinewell Enterprises' — a WhatsApp group with 105 members, including 20 from Hyderabad and Secunderabad.
The accused lured victims by promising high returns on investments, trapping them in the illegal gambling ring. Investigations found Rs 8.34 crore in suspicious transactions in bank accounts linked to them.
The Rachakonda police have urged the public to avoid betting, emphasising its potential to destroy lives and lead to financial ruin. They also requested citizens to report illegal activities in their neighbourhoods, stressing the importance of community cooperation in maintaining a crime-free society.
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