CCS police have expedited the investigation in financial fraud in the Telugu Akademi, which is on the joint list of Telugu states.Akademi officials have also complained to CCS police that Rs 8 crore of Telugu Academy FDs at Union Bank’s Santosh Nagar branch have gone missing.
CCS police have received a total of three complaints alleging that Rs 63 crore FDs at banks were missing.CCS police questioned the employees of Union Bank, Canara Bank, RBL Bank, Agrasen Bank and Telugu Akademi officials as part of the investigation.
However, police expressed suspicion on Agrasen Bank and Ratnakar Bank representatives.
As per the police reports, all funds transferred from Union Bank were deposited in the same account.
Rs 43 crore from the Karwan branch, Rs 10 crore from the Santoshnagar branch and Rs 10 crore from Charminar Bank went missing.
The Telangana state government has already appointed a three-member departmental committee to take action against union bank managers.
The investigation into the financial fraud of fixed deposits in the Telugu Akademi is in full swing.Under the supervision of Committee Head, Inter-Board Secretary, IAS Omar Jalil, the officials are thoroughly examining all the records.
Police will further expedite the investigation after questioning the Telugu Akademi representatives.
