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Andhra Pradesh: Former CM Chandrababu Naidu arrested over Rs.550 Cr scam in APSSDC: CID SIT reveals details

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CID SIT officials revealed that former CM Chandrababu Naidu was arrested in Nandyala this morning in connection with the 550 crore scam in APSSDC. In the media conference organized today, the antecedents of the case related to this were explained.

On 09.09.2023 at 06.00 Hrs at RK Function Hall, Nandyal the CID SIT officials have arrested the prime accused Sri Nara Chandrababu Naidu, Former Chief Minister, of A.P., in connection with the alleged fraud in Skill Development Corporation involving approximately Rs. 550 Crores.

This case revolves around the establishment of clusters of Centers of Excellence (CoEs) in the state of Andhra Pradesh, with a total estimated project value of Rs. 3300 Crores. The alleged fraud has caused huge loss to the Government of Andhra Pradesh in excess of 300 crores.

Shri Nara Chandrababu Naidu arrested in CR NO 29/2021 U/S 120-B, 166, 167, 418, 420, 465, 468, 471, 409, 201, 109, R/w 34 & 37 IPC Section 12, 13, (13) 1) (c) & (d) CID PS AP Mangalagiri of Prevention of Corruption Act 1998

The investigation has revealed serious irregularities:

Before any expenditure by private entities, the Go AP/APSSDC provided an advance of Rs. 371 Crores, representing the entire 10% commitment by the government.

Most of the money advanced by the government was diverted to shell companies through fake invoices, with no actual delivery or sale of the items mentioned in the invoices.

A portion of the funds was used to create the CoE clusters, a departure from the official procedure, while the rest was routed through shell companies.

The investigation implicates prime accused Sri Nara Chandra Babu Naidu, along with the Telugu Desam Party, as beneficiaries of the misappropriated funds.

Sri Nara Chandrababu Naidu is considered the principal conspirator behind the scheme, orchestrating the transfer of public funds to private entities via shell companies, resulting in a loss to the public exchequer and private gains.

Sri Nara Chandrababu Naidu possesses exclusive knowledge of the transactions leading to the issuance of government orders and memoranda of understanding, making him a central figure in the investigation.

The ultimate use of the misappropriated funds, including cash holdings with individuals like Vikas Khanvilkar, requires further examination.

Key documents related to the case have gone missing, Sri Nara Chandrababu Naidu and other individuals being primary suspects.

The investigation is focusing on locating the misappropriated funds, making custodial interrogation of Sri Nara Chandrababu Naidu necessary.

The material including statements of public officials recorded U/s164 Cr PC clearly points to the involvement of Mr. Chandra babu Naidu as the principal decision maker to release the money in advance.

The charges in this case carry penalties of more than 10 years of imprisonment, and given the deep-rooted conspiracy, custodial interrogation is deemed necessary to uncover all aspects of the financial fraud.

The role of common player in this case and associated investigation more particularly the complicity of Sri. Nara Chandrababu Naidu is required to be further elicited. Hence custodial investigation is deemed necessary.

In this case the other agencies ED & GST have already investigated. Since it is deep rooted economic offence, a thorough and deep investigation is done by duly following all the criminal procedures. All the laws and subject matters are deeply examined and the relevant material will be placed before the competent court. The entire offence has occurred in the knowledge of the prime mover, conspirator and final beneficiary of defalcation money.

He is the former chief Minister of AP and his influence over the witnesses and other accused has come on to record. His arrest is compulsory because of his position and it is clearly visible that he is trying to thwart further investigation and possible tampering of evidence.

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