India, Nov. 10 -- A 40-year-old man from Hebbagodi, Bengaluru, has been arrested for allegedly murdering two of his close friends over financial disputes. The accused, Ravi Prasad Reddy, had previously owned a chain of grocery stores but faced severe losses during the Covid-19 pandemic.

Police investigations revealed that Reddy suffered losses of around Rs.5 crore after defaults by borrowers and investments in chit funds failed.

About 60 people he had lent money to either died or left the city during the pandemic, leaving him in deep financial trouble, as per a report by The Times of India (TOI).

Reddy allegedly killed tea shop owner R. Madesh (41) and metal fabrication factory owner Balappa Reddy (61) to demand ransom. The police arre...