Telugu actor Siva Reddy has reportedly alleged that a friend cheated him of ₹70 lakh, costing him a chance to acquire a ₹100 crore property in Manikonda. Here's what is known about the alleged fraud and property dispute.
Siva Reddy's journey as a mimicry artist and actor
Popular actor Siva Reddy entertained crores of Telugu television viewers with his amazing mimicry skills and perfect comedy timing. He works actively in the Telugu film industry for more than 30 years now. He played many memorable comedy roles and hero-friend characters on the big screen. But Siva Reddy faced many financial struggles in his personal life. He recently shared details about the financial frauds he suffered in a candid interview. These shocking details are going viral on social media right now.
24
Siva Reddy lost 70 lakhs to a friend
Siva Reddy explained how he lost his hard-earned money because he trusted the wrong people blindly. He shared the exact details of the fraud and the shocking story behind the Manikonda property. His life story serves as a big lesson for people who give their hard-earned money to others. Siva Reddy felt deeply hurt when a very close friend took 70 lakh rupees from him and never returned it.
A close friend backstabbed him
Siva Reddy wanted to buy good properties with his money. But this friend always discouraged him by finding fake faults in every property. The friend's father also joined in and strongly advised Siva Reddy against buying lands. Siva Reddy trusted them thinking they cared for his future. Those same rejected lands cost more than 50 crore rupees today.
34
11 lakh land is worth 100 crores today
Siva Reddy specifically mentioned the Manikonda area during his interview. He wanted to purchase two acres of land in Manikonda back in the day. The owners asked for just 11 lakh rupees for the entire two acres. He had the perfect chance to invest his money there. But he backed out of the deal because of his friend's bad advice. Siva Reddy regrets this decision heavily today.
He said that the Manikonda area developed rapidly with luxury villas and huge apartments. He would have earned massive returns if he bought that land. Even a small share of 10 or 20 villas in a development deal would make him a billionaire today. His total asset value would easily touch the 100 crore mark.
Siva Reddy shared another shocking incident about a prime property near the Madhapur police station. He paid 35 lakh rupees as an advance for a 450 square yard plot there. He asked the seller for the LRS and BRS property papers. The seller promised to give them but kept delaying the process.
Siva Reddy thought the seller was genuinely busy. But his friend brainwashed him again and forced him to cancel the deal. Siva Reddy finally lost his patience and asked the seller to return his advance money. He would own that prime Madhapur property today if he waited patiently.
However, the seller surprised him completely. The seller invited Siva Reddy to his house and treated him with great respect. The seller's family members were huge fans of the actor. The seller packed the entire 35 lakh rupees in a bag and respectfully returned it on the table without cutting a single rupee.
Siva Reddy learned big life lessons from these financial losses and fake friends. He shared these experiences to warn others about blind trust.
