The Enforcement Directorate (ED) has filed a chargesheet against Akula Kishan, former Indian Forest Service (IFS) officer for indulging in irregularities under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
Hyderabad:The Enforcement Directorate (ED) has filed a chargesheet against Akula Kishan, former Indian Forest Service (IFS) officer for indulging in irregularities under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The agency officials have initiated the PMLA investigation based on an FIR registered by the CID police station, Hyderabad. The case pertains to alleged violations wherein Kishan, while holding an official position, colluded with other individuals and private entities to misappropriate funds from the Andhra Pradesh Women’s Co-operative Finance Corporation (APWCFC).
The fraudulent activities, which occurred between April 2005 and 2008, involved irregular appointments, unauthorised land transactions, and procedural violations to facilitate irregular purchases. He also misused APWCFC properties by leasing or renting portions of its buildings, withdrawing large sums of money dishonestly, and causing significant financial loss to the corporation and the government exchequer.
During the agency’s investigation, it was revealed that Kishan, while serving in APWCFC, made illegal appointments and promotions without requisite approvals to secure the loyalty of certain individuals, and later utilised them to disburse Rs 15.39 crore loans to ineligible and related persons and benamis without proper sureties or documentation, often based on handwritten notes under the Indiramma Mahila Upadhi Pathakam (IMUP) loan programme.
Further, Kishan, along with CEO V. Santosh Kumar, opened secret bank accounts, executed fake agreements, collected Rs 7.5 crore in the name of APWCFC, and diverted funds to personal accounts and associates. Kishan also purchased computers, laptops, software, mobile phones, printing machines, and vehicles without tenders, at inflated rates, causing monetary gain to himself. As a result, Kishan defrauded APWCFC and others, causing wrongful loss amounting to Rs 23.46 crore and utilised the proceeds of crime for his personal benefit.
