K. Venkateswara Rao remanded in judicial custody till July 11
Special police team bring Rao from ThailandProduced before Metropolitan Sessions JudgeTight security at Begumpet Airport
HYDERABAD: Completing an eight-month long complicated extradition process, a special police team finally brought back Krushi Bank chief K. Venkateswara Rao from Thailand to Hyderabad on Tuesday night. He was produced before the Metropolitan Sessions Judge Bhujanga Rao at the latter's residence and remanded in judicial custody till July 11.
Rao fled the country five years ago after allegedly duping 8,300 depositors of nearly Rs.32 crores. However, the Interpol arrested him in Thailand in October last. Since then, the Crime Investigation Department here pursued the matter with the Thai government and finally managed to extradite him back to the city.
Tight security arrangements were made at the Begumpet Airport here when the flight landed around 7.40 p.m. with CID Additional DGP M. Ratan supervising the whole process. Rao was then taken to the CID office at Masab Tank and from there, to the residence of Judge Bhujanga Rao on Road No. 10, Banjara Hills.
Police did not allow media persons to speak to Rao. Clad in a pair of black shorts, a white T-shirt and sports shoes, the prime accused in the biggest ever private bank scam in the State, put on a grim face when photographed near the judge's residence. After being remanded, Rao was taken to the Chanchalguda Jail. Eluru range DIG C.V. Anand, who led the special team, said police would move court seeking Rao's custody for interrogation.
The CID had already arrested 23 persons, including the bank's directors, soon after the bank ran into a financial crisis amidst allegations of misappropriating depositors' money in August 2001.