Andhra Pradesh: Political Leaders' Kin Held In Moneylending Scam


Vijayawada; Dec.17:  A massive blackmail, extortion and sex racket linked to moneylending has been exposed in Andhra Pradesh, in which 80 people from different political parties have been arrested.

As on Wednesday, as many as 123 moneylenders found possessing blank cheques, signed promissory notes, property documents etc. across the state have been arrested and booked under various sections of IPC including 384, 420, 506 and Section 4 of the Money Laundering Act.

Hundreds more have been detained for examination and will be arrested once the police confirms that they were wrongfully lending money and harassing borrowers. Sources meanwhile said that the cops were only arresting money lenders who had been harassing the borrowers. Among the arrested, 43 money lenders belong to the YSRC, 20 to the Telugu Desam and 12 to the Congress. Five belong to the CPI.

In Vijayawada alone 38 of the 80 detained have been arrested. They include MLC Budda Venkanna's brother Budda Nageswara Rao, YSRC mandal convenor of Piduguralla Challa Pichi Reddy and Kankipadu MPTC Ch Subhas Chandra Bose of YSRC.

Speaking about the raids in a press conference, Commissioner of Police Mr Gautam Sawang said that the raids would continue and action would be taken accordingly on the moneylenders. Possessing blank cheques, blank and signed promissory notes and documents is illegal and cases that involve large amounts of money will be referred to the tax departments, said the cops.

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