Further progress has been made in the investigation of the Telugu Akademi funds scam. The police have finally detained the gang that illegally diverted crores of funds.
While CCS already arrested four people including Akademi accounts officer Ramesh, 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.
Last week, UBI manager Mastan Vali along with AP Mercantile Society chairman Satyanarayana, manager Padmavati, and clerk Mohiddin were arrested while the police have taken bank agents Saikumar, Rajkumar, Venkat, and Chandanagar Canara Bank manager Sadhana into custody.
Amongst the arrested Saikumar was found to be the mastermind behind the whole scam. Sharing the details of the case at the press conference in Hyderabad, Hyderabad CP Anjani Kumar stated that Saikumar already have three cases against him in the past.
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. CCS revealed that 9 people are suspected to have a connection with the case and their details will be revealed soon.