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Money laundering case – Prime accused father arrested

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Wednesday, May 17, 2017
Vijayawada


The Crime Investigation Department that has taken over the money laundering case has today arrested Vaddi Srinivasa Rao, father of the prime accused Vaddi Mahesh who was arrested on Sunday and lodged in central prison. It is reported that Mahesh and others remitted Rs.569.93 crore remitted through fictitious accounts.

The both are the among nine accused in the alleged Rs.1,600 crore money laundering scam. The CID officials have picked him up today morning reportedly in Srikakulam and is being questioned. The arrest of Srinivasa Rao is a crucial factor in the case as he allegedly played a key role in the laundering the money through 12 shell companies and 30 fictitious accounts in Visakhapatnam and Kolkata.

Sources said the CID officials are reportedly taking the assistance of Interpol in nabbing the rest as they might have fled to foreign countries.