Hyderabad, June 20 (Namaste Telangana): The Andhra Pradesh government, through two individuals, has been accused of embezzling Rs 1035 crore in the Margadarsi Chit Fund case. The ACID department of AP CID, led by ADG Sanjay, held a media conference in Hyderabad on Tuesday. ADG Sanjay stated that they have been investigating the Margadarsi case since March 10 and have registered seven FIRs so far. It was revealed in the case that Ramoji Rao and Shailaja Kiran were involved in fraudulent activities.
After questioning the accused, it was found that they did not cooperate. ADG Sanjay mentioned that the Margadarsi company, which handles investments worth hundreds of crores, can be severely affected by this case. With information provided by the Stamps and Registration department, auditing is being conducted with the help of 108 branches in Andhra Pradesh, Telangana, Tamil Nadu, and Karnataka states. The situation may worsen if Margadarsi collapses in these four states.
