One More Person Arrested In Telugu Academy Funds Scam

One More Person Arrested In Telugu Academy Funds Scam - Sakshi Post

GUNTUR/HYDERABAD: Police have arrested another person involved in the Telugu Academy funds scam case. Central Crime Station (CCS) police have arrested Sambasiva Rao, who is said to be a close relative of Canara Bank manager Sadhana from Guntur on Thursday. CCS police arrested him in Guntur and brought him to Hyderabad and sent him to remand.

Sadhana was earlier arrested by the police for her involvement in the scam. The CCS sleuths have arrested 15  people so far and the name of Sambasiva Rao cropped up during the investigation. He is said to have had introduced Sai Kumar to bank manager Mastan Vali, and demanded commission for deals, and got Rs 60 lakh as part of his role in the scam.

Also Read: Telugu Academy Bank Fraud Updates: Canara Bank Manager, 3 Agents Arrested

Three more persons were arrested last week for their role in the scam. As per reports, the three accused were identified as Vinay Kumar, Bhasker and Vamshi. While one of them was an outsourcing employee of the Telugu Academy and two others are real estate agents.

Earlier, Hyderabad City Police Commissioner Anjani Kumar had said that Sai Kumar, a real estate businessman from Tanuku in Andhra Pradesh, was the mastermind behind the scam and had taken the support of the bank staff and the Academy to commit.  Sai Kumar was a regular offender and pulled off such scams earlier. He had siphoned off Rs 26 crore from UBI Bank, Karwan branch, Rs 11 crore from UBI Santosh Nagar branch and Rs 6 crore from Canara Bank, Chandanagar branch in collusion with the other offenders.

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