Vijayawada: A major 5 crore loan fraud involving fake documents and a well-coordinated nexus of political middlemen, white-collar criminals, and govt officials was unearthed in Guntur district. The investigation, led by CI Srinivasa Rao of Prathipadu police station in Guntur, resulted in the arrest of 11 accused, including a former mandal revenue officer (MRO) and a former bank branch manager.
The 11 individuals arrested in the case were identified as Somepalli Nagaraju, Jillelamudi Prabhakar, Thiruvedhula Yogayya, Mandru Sitaramanjaneyulu, Sunkara Venkateshwarulu, Turumella Venkata Sandeep Kumar, Nemalapuri Srinivasa Rao, Manam Nageswara Rao, Battula Lakshmi Narayana, Avula Tirupati Reddy, and Garnepudi Levy, a retired MRO. The accused played key role in manipulating loan approval processes and violating established banking norms.
According to SP Satish Kumar, the investigation began on Sept 18, 2024, when U Lingeswara Rao from South Veerayapalem village in Kurichedu mandal lodged a complaint about a fraudulent loan of 6 lakh in his name at the Chinnakondrupadu Primary Agricultural Cooperative Society (PACS).
Acting on the complaint, a case was registered at Prathipadu police station, and a thorough probe was initiated. The investigation gained momentum after a series of media reports exposed fraudulent loans in the Guntur District Cooperative Central Bank (GDCC), highlighting fake pattadar passbooks being used to siphon funds.
