ED (Enforcement Directorate) has now jumped into action in the Telugu Akademi scam. While CCS police have recently written to the ED to launch an investigation into the allegations in money laundering, ED has reportedly ordered an inquiry into the diversion of Rs 64.5 crore fixed deposits.
It was learned that ED has started the investigation based on the letter submitted by CSS which has the full details investigated so far. CCS has already arrested four people including Akademi accounts officer Ramesh and six others were detained in connection with the case, of late. With this, the total number of arrested in the Telugu Akademi scam has reached ten so far.
Amongst the arrested Saikumar, the bank agent was found to be the mastermind behind the whole scam. According to police, the gang has been involved in looting government fixed deposits in banks. While Saikumar took the major share of the looted funds, the remaining people involved in the scam already bought properties.