Ten special police teams have been formed in Andhra Pradesh to nab the chairman and directors of the city-based Krushi Urban Co-operative Bank for allegedly swindling the depositors' money even as properties and shares of the scamsters were being confiscated. An inventory of properties owned by directors of the crisis-ridden bank, whose board has since been superseded as per RBI directive, was being done and police teams were pursuing various leads to track them down, the state director general of police H J Dora told reporters in Hyderabad on Thursday.
Denying any "political interference" in the case, the DGP said district authorities of Krishna, West Godavari and Visakhapatnam had been directed to identify the properties of the bank's directors and confiscate them. Ten special police teams, five each from the CID and city crime branch, have fanned out across the state to pursue leads to nab the scamsters, he said.
A house, worth Rs 1 crore, owned by the bank's chairman Venkateshwar Rao at his native village in Krishna district has been confiscated and a notice has been put up there making it clear that the property now belonged to the depositors of the bank, the DGP said. Krushi Bank, one of the 76 urban co-operative banks in the city, is embroiled in a financial scandal amid allegations of asset-liability mismanagement.
Bureau Report