Andhra Pradesh cabinet minister's relatives involved in bank scam worth Rs 2 crores

Andhra Pradesh cabinet minister Chidipiralla Adinarayana Reddy’s relatives are involved in a bank scam where they siphoned Rs 2 crores worth bank money
Jammalamudugu Cooperative Credit Society Bank chairman Hrishi Kesava Reddy, a relative of Adinarayana along with his brother MLC Narayana Reddy scammed the bank of Rs 2 crores
The account holders in the bank demanded the return of their amount

AP cabinet ministers relatives scam a bank worth Rs 2 crore

Andhra Pradesh cabinet minister Chidipiralla Adinarayana Reddy’s relatives are involved in a bank scam where they siphoned Rs 2 crores worth bank money. The Endowments department officials filed cases against the culprits and attached their property.

According to news sources, Jammalamudugu Cooperative Credit Society Bank chairman Hrishi Kesava Reddy, a relative of Adinarayana along with his brother MLC Narayana Reddy who was the honorary president and Adinarayana’s another brother who was the director scammed the bank of Rs 2 crores.

Hrishi Kesava Reddy siphoned Rs 2 crores from the bank between February and August 2017 and the proofs of Rs 41 lakhs being taken illegally are already available with the authorities. CEO Balaji is also involved in the fraud. Since the proofs of the scam are strong, Adinarayana is unable to utilise his position or do anything else.

As news of the scam spread, the account holders in the bank demanded the return of their amount.

The authorities have filed cases against all the accused and are further investigating the fraud.

Last Updated Mar 31, 2018, 6:59 PM IST