The Guntur District Co-operative Central Bank (DCCB) Chairman Rathamsetty Seetharamanjaneyulu (Ramu) challenged TDP senior leader and former Minister Kanna Lakshminarayana to prove the allegations levelled against him.
In a statement here on Monday, Mr. Ramu said that Mr. Kanna Lakshminarayana’s allegation of fund misappropriation of ₹500 crore in the bank was baseless and aimed at drawing public attention and gaining political mileage. They had in fact unearthed a fraud involving ₹13 crore in the bank and were in the process of recovering the money. All the perpetrators of the fraud were punished. It had taken place during the TDP regime, he said.
Mr. Kanna Lakshminarayana was known for changing his political loyalty for personal gains and had come under severe criticism of TDP chief N. Chandrababu Naidu, before he joined that party, Mr. Ramu alleged.
Earlier, Mr. Kanna Lakshminarayana, in letters addressed to the Union Home Minister Amit Shah, and the Chairman of NABARD alleged large-scale misappropriation of funds and cheating of innocent and poor farmers by the cooperative societies in Andhra Pradesh. He sought immediate action from the Central government and NABARD in this regard, to protect farmers’ money in these banks.
He alleged that a ₹500-crore fraud was unearthed in the Guntur DCCB in the loans sanctioned to DWCRA groups.
