1 year ago
Janani Bank Scam: Prime Accused Arrested in Kovelakuntla
Imagine a bank that promised people high interest on their savings.
A man named Akula Venkataramana, along with others, started this bank called Janani Society.
They took money from people, promising big returns and easy loans.
However, instead of using the money as promised, Venkataramana took it for himself.
When people wanted their money back, the bank was closed and the people in charge had disappeared.
The police have now caught Venkataramana, who is accused of stealing over Rs 1.5 crore from the people who trusted the bank.
Akula Venkataramana, the prime suspect in the Janani Mutual Aided Cooperative Society scam, has been arrested.
The scam defrauded depositors of over Rs 1.5 crore.
Venkataramana, along with others, established the Janani Society in Kovelakuntla.
The society attracted depositors with high-interest rates and easy loans.
Venkataramana diverted the deposited funds to his personal account.
- Who
- Akula Venkataramana, the prime accused, along with Guvvala Padmavati and others, established the Janani Society.
- What
- Akula Venkataramana was arrested in connection with the Janani Mutual Aided Cooperative Society scam.
- Where
- Kovelakuntla, Nandyal district.
- When
- The arrest occurred on Monday.
- Why
- Venkataramana diverted funds to his personal account.
Key facts
- Accused
- Akula Venkataramana
- Crime
- Janani Society Scam
- Location
- Kovelakuntla, Nandyal district
- Amount Defrauded
- Over Rs 1.5 crore
- Society Established By
- Akula Venkataramana, Guvvala Padmavati, and others
