Tollywood Producer Allu Aravind summoned by ED in Rs 100 Crore Scam
Bank Fraud Case: ED Summons To Allu Arjun Father For 100 Crore Scam: ‘Pushpa’ fame superstar Allu Arjun’s father and famous Telugu film producer Allu Arvind has been questioned for three hours by the Enforcement Directorate (ED). The case is allegedly related to high-profile money laundering and bank fraud of Rs 101.4 crore. Allu Arvind appeared before the ED in Hyderabad on Friday.
Allu Arvind spoke to the media after the interrogation. In a video shared by ‘Great Andhra’, Allu Arvind is saying that the case is related to a property purchased by him in 2017. He said, ‘I am a law-abiding citizen. He is cooperating with the ED so that the investigation of the case proceeds smoothly.’
Allu Arvind said- I cannot give much information, an investigation is going on
Allu Arjun’s father, Allu Arvind, has also said that some media reports have exaggerated the matter. Arvind admitted that he cannot give more information about this case because the agency is still investigating it.
What is this case of fraud and money laundering of Rs 101 crores?
This high-profile case is related to financial irregularities involving Ramakrishna Electronics and Ramakrishna Teletronics (RTPL). According to a report by India Today, the ED has conducted searches at several places, including Hyderabad, Kurnool, and Ghaziabad in this investigation. This case has come to light after a complaint was filed by Union Bank of India, formerly known as Andhra Bank.
CBI has registered a case in Bengaluru
According to the complaint filed by the bank, it is alleged that Ramakrishna Electronics and Ramakrishna Teletronics Group have misused the loan given by the bank. The Central Bureau of Investigation (CBI) in Bengaluru has registered a case against Ramakrishna Electronics, RTPL, and their directors and shareholders V. Raghavendra, V. Ravi Kumar, and others.
ED has important documents, land was bought by misappropriation of money
The ED is said to have reportedly found some crucial documents that could be linked to properties purchased using illegally diverted money. They also froze around Rs 1.45 crore in bank accounts linked to the accused and their companies. During the searches, officials seized digital devices and found records of payments made abroad. The investigation into the case is still underway.
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