The Economics Offences Wing (EOW) of Telangana State CID nabbed an absconding couple who were on the run for 14 years after duping a co-operative bank in Kukatpally while functioning as its directors. They misappropriated funds to the tune of ₹2.86 crore, said the officials.
Additional DGP of State CID, Mahesh Bhagwat, said that a case was lodged against the couple on October 1, 2009 following a complaint from the liquidator of Kanyaka Parameshwari Co-operative Bank, Kukatpally.
“Kakarlapudi Krishna Varma, 65, and his wife Kakarlapudi Padma alias Roopa, 50, were directors of the bank. By teaming up with a few other employees, they defrauded small-scale depositors to the tune of ₹2.86 crore by misappropriating and sanctioning benami loans, falsification of accounts and further diverting the funds for their personal gain,” said the official.
The couple have been absconding since the RBI inquiry into the case in 2005 and have been evading the RBI and police since 2009. Non-Bailable Warrants (NBWs) were issued against them in 2016. Following a probe into the case, the EOW officials of the State CID nabbed them.
