Two former managers of District Cooperative Central Bank (DCCB) at Rajampet and two former presidents of Primary Agricultural Cooperative Societies (PACS) were among the eight arrested by the CID officials on Friday, in connection with a fictitious loan scam.
The CID officials are enquiring into the alleged issuing of benami loans in Pullampet mandal during the eight-year tenure (from 2005) of former DCCB president Kollam Brahmananda Reddy.
The accused have been identified as two former DCCB managers of Rajampet branch --Manohar Naidu and Subbarama Raju-- two former PACS presidents - Chengal Reddy of Ananthampalli and Rambhupal Reddy of Ananthaiahgaripalle--, CEO of Ananthaiahgaripalle PACS Radhakrishnam Raju and three retired PACS CEOs - Srinivasulu Reddy, Nizam Vali and Narasimha Raju. They were arrested by a team led by CID Assistant Superintendent of Police Sridhar and handed over to Pullampet Police later.
They were produced before Kadapa First Additional Judicial Magistrate court and remanded to judicial custody till February 11.
The accused allegedly sanctioned loans in Ananthampalle, Ananthaiahgaripalle and Ananthasamudram PACS in Pullampet mandal basing on fictitious pattadar passbooks for non-existent land, CID Assistant Superintendent of Police told the media.
CID officials are said to have identified as many as 233 persons as accused in the scam. Some more accused would be arrested soon, they said.
CID officials have identified as many as 233 persons as accused in the scam so far
