Telugu Akademi fraud mastermind got ₹20 crore
The Hindu
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A whopping ₹20 crore was swindled by the mastermind Chunduri Venkata Koti Sai Kumar, 49, in ₹64.50 crore Telugu Akademi fixed deposit fraud.
Others who siphoned off a large amount of money are -- Chairman and Managing Director of A.P. Mercantile Cooperative Credit Society Ltd., Vijayawada, B.V.V.N. Satyanarayana Rao, and realtor Nandui Venkata Raman, 50, ₹10 crore and ₹7 crore, respectively.
While Sai Kumar and Raman were partners in the fraud, Rao got the share for parking the money in his society by creating a fake account in the name of Telugu Akademi.
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