Hyderabad, Aug 14 (IANS) The Enforcement Directorate (ED) has filed a prosecution complaint before the special PMLA Court here, against ex-Indian Forest Service (IFoS) officer Akula Kishan, and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

The Enforcement Directorate’s Hyderabad Zonal Office said on Thursday that the court has taken cognisance of the Prosecution Complaint (PC).

The ED initiated PMLA investigation based on the FIR registered by the CID Police Station, Hyderabad. The predicate 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 ED said in a statement.

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, the agency said.

The ED investigation revealed that Kishan, while serving in the APWCFC, also 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 Upadi Pathakam (IMUP) loan programme.

Kishan, along with CEO V. Santosh Kumar, also opened secret bank accounts, executed fake agreements, collected Rs 7.5 crore in the name of the APWCFC, and diverted funds to personal accounts and associates. He also purchased computers, laptops, software, cell phones, printing machines, and vehicles without tenders, at inflated rates, thereby causing monetary gain to himself. Consequently, Kishan defrauded the APWCFC and others, causing wrongful loss amounting to Rs. 23.46 crore and utilising the proceeds of crime for his personal benefit, the agency added.

The ED had earlier attached immovable properties belonging to Kishan and others, worth Rs 1.26 crore, under the provisions of the PMLA.

–IANS

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