Probe Agency Files Charge Sheet Against Ex-Employee Of LIC For Fraud

The central investigative agency issued a statement to say that the prosecution complaint or the charge sheet has been filed against Dharavathu Sakru before a special court in Vishakhapatnam that tries cases under criminal sections of the Prevention of Money Laundering Act (PMLA).

The Enforcement Directorate (ED) has filed a charge sheet against a former Life Insurance Corporation (LIC) employee based in Andhra Pradesh in a money laundering case linked to alleged misappropriation of Rs 1.82 crore. The central investigative agency issued a statement to say that the prosecution complaint or the charge sheet has been filed against Dharavathu Sakru before a special court in Vishakhapatnam that tries cases under criminal sections of the Prevention of Money Laundering Act (PMLA). It said the alleged siphoning of funds was done when Sakru was employed as an assistant (higher grade) at the Jaggaiahpet branch of LIC in Krishna district of Andhra Pradesh. The agency took cognisance of a state police FIR against Sakru that alleged "misappropriation of LIC funds to the extent of Rs 1.05 crore" and a 2014 CBI FIR against him for purported financial irregularities of Rs 77 lakh of the national insurer.