The ED said that while at the Andhra Pradesh Women's Co-operative Finance Corporation (APWCFC), Akula Kishan colluded with others to steal Rs 23 crore.
The Directorate of Enforcement (ED) has filed prosecution complaints (PCs) against Akula Kishan, a former Indian Forest Service officer, and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, before the Special PMLA Court, Hyderabad.
The ED initiated its probe based on an FIR registered by the CID, Hyderabad. The court took cognizance of the PCs on August 13.
The agency had earlier attached immovable properties worth Rs 1.26 crore belonging to Kishan and others under the provisions of the PMLA, 2002.
According to the case details, while holding an official position at Andhra Pradesh Women's Co-operative Finance Corporation (APWCFC), Kishan colluded with other individuals and private entities to misappropriate funds from the corporation.
The fraudulent activities, which took place between April 2005 and 2008, involved irregular appointments, unauthorised land transactions, and procedural violations to facilitate dubious purchases.
He also misused APWCFC properties by leasing or renting portions of its buildings, and dishonestly withdrew large sums of money causing significant financial losses to the corporation and the government exchequer.
The ED investigation revealed that Kishan, during his tenure at APWCFC, made illegal appointments and promotions without requisite approvals to secure the loyalty of certain individuals. He later used them to disburse Rs 15.39 crore in loans to ineligible persons and benamis without proper sureties or documentation, often based on handwritten notes, under the Indiramma Mahila Upadi Pathakam (IMUP) loan scheme.
Kishan, along with APWCFC CEO V Santosh Kumar, allegedly opened secret bank accounts, executed fake agreements, collected Rs 7.5 crore in the name of APWCFC, and diverted the funds to personal accounts and those of associates. He also purchased computers, laptops, software, cell phones, printing machines and vehicles without tenders and at inflated prices, thereby benefiting personally.
The ED concluded that Kishan defrauded APWCFC and others causing wrongful losses amounting to Rs 23.46 crore, and used the proceeds of crime for personal gain.
In another case, the ED filed a prosecution complaint before the Special PMLA Court, Hyderabad, against M/s Al Kabeer Exports Pvt Ltd and its director under the PMLA, 2002. The court has taken cognizance of the complaint.
This case stems from a complaint filed by the Telangana State Pollution Control Board (TSPCB) in the Special Mobile Judicial First Class Magistrate Court, Sangareddy, against Al Kabeer Exports. As per the complaint, the company, engaged in the processing of frozen buffalo meat, had obtained permission from the TSPCB stating that all solid waste generated during animal slaughter would be properly classified and disposed of in accordance with TSPCB norms.
The ED probe revealed that Al Kabeer Exports however did not comply with the statutory requirement for treating hazardous solid meat waste generated at its premises. Instead, the company disposed of the waste in open areas, resulting in the pollution of surface and groundwater in the surrounding regions. As a result, the ED probe says, the company generated proceeds of crime amounting to Rs 61 lakh.
The ED had earlier already attached movable property in the form of a fixed deposit worth Rs 61 lakh belonging to the company.