The Crime Investigation Department (CID) on Wednesday arrested Ch. Chakra Bhaskara Rao in connection with the ₹457.48 crore scam unearthed by the State government in the Kakinada-based Jayalakshmi Mutually Aided Multipurpose Cooperative Society Limited.
Chakra Bhaskara Rao is one of the directors of the society. Three others have already been arrested in the case.
In a joint official release, CID Visakhapatnam and Rajamahendravaram said that Chakra Bhaskara Rao was arrested near the Pushkar Ghat. The CID produced him before a local court.