Hyderabad: ED files PMLA case against ex-IFS officer Akula Kishan
Enforcement Directorate Hyderabad has filed a prosecution complaint against former IFS officer Akula Kishan in a Rs 23.46 crore APWCFC scam under PMLA. The case involves fraudulent loans, forged agreements and diversion of funds for personal gain
Hyderabad: Enforcement Directorate (ED) Hyderabad officials have filed a prosecution complaint before the special PMLA Court against former Indian Forest Service officer Akula Kishan and others under the Prevention of Money Laundering Act (PMLA), 2002. The court took cognisance of the complaint on Wednesday.
The case stems from a CID Hyderabad FIR alleging that Kishan, during his tenure with the Andhra Pradesh Women’s Co-operative Finance Corporation (APWCFC) between 2005 and 2008, colluded with private entities to misappropriate funds through irregular appointments, unauthorised land transactions and fraudulent purchases.
ED investigations revealed that Kishan illegally appointed and promoted individuals to facilitate the disbursal of Rs 15.39 crore in loans to ineligible and related persons under the Indiramma Mahila Upadi Pathakam scheme.
He, along with then CEO V Santosh Kumar, allegedly opened secret bank accounts, forged agreements, collected Rs 7.5 crore in APWCFC’s name and diverted funds for personal use. Purchases of equipment and vehicles were also made without tenders and at inflated prices.
The ED said Kishan’s actions caused wrongful losses of Rs 23.46 crore to APWCFC and the government, while generating personal gains.
Properties worth Rs 1.26 crore belonging to the suspect have already been attached under PMLA provisions.
