The businessman previously ran schools that had suffered losses as a result of the pandemic. (Representative image)
HYDERABAD: A businessman ended his life in Suryapet district on Tuesday after he was allegedly harassed by a financier to return the money he borrowed for online investments. Police said they were investigating whether the online losses were linked to cryptocurrency investments. The businessman previously ran schools that had suffered losses as a result of the pandemic.
Ramalinga Swamy (36) was found dead in a toilet at a pavilion near the new bus station in the town of Suryapet. He had consumed poison. Swamy resided at Yellandu in Khammam. The cops found a suicide note mentioning online investing, financial problems and the harassment of a financier.
“In the suicide note, he did not directly mention that he had suffered losses in cryptocurrency. It was his family who claimed he was in cryptocurrency, ”said a cop from the town of Suryapet.
According to his family, Swamy entered cryptocurrency after Covid hit his school business. After the initial profits, he raised several lakhs in loans from a few people, but suffered losses, his family said.
“My husband has cleared almost everyone’s loans. But a financier, a sarpanch from the Krishna district of the PA, had harassed him to pay back more money, ”Swamy’s wife Swathi told reporters. The family accused the financier of forcibly taking the signature on blank checks, gold and also a car from the victim recently.
Swamy had left the house at 7:30 a.m. on Monday after informing his wife that he was on his way to Hyderabad to raise funds to pay the financier’s dues. His wife who said he was in contact by phone until 3pm, but subsequently the mobile was turned off. The family then filed a disappearance complaint. On Tuesday, the lodge management forced open the door because there was no response and found Swamy dead in the bathroom.
According to the family, Swamy entered cryptocurrency after Covid hit his school business. After the profits, he raised lakhs on loan from a few people