Overview

• The CID arrested Thippeneni Ramadasappa Naidu and his son Thippeneni Sai Kiran and remanded them to judicial custody over a ₹140 crore cooperative fraud.
• The duo is accused of duping more than 2,000 farmers, daily wage earners and unemployed youth with false promises of high returns, permanent government jobs and a bank conversion under the Mudra scheme branding.
• The Mudra Agriculture Skill Development Multi-State Co-operative Society expanded to roughly 330 branches and recruited about 1,600 employees to collect deposits through share capital and investment bond schemes.
• Preliminary probe findings show a large portion of the funds was siphoned into industrial plots in Andhra Pradesh’s Anantapur district and properties in Telangana’s Keesara area.
• Based on victims’ complaints, the CID has registered ten cases across Telangana and is now tracing fund flows and identifying further accomplices.