Allu Arjun's Father, Cine Mogul Allu Aravind Grilled by ED in Rs 101.4 Crore Bank Fraud Scandal
Telugu Cinema Mogul Allu Aravind Grilled by ED today
Renowned Telugu film producer Allu Aravind, father of superstar Allu Arjun, faced over three hours of questioning by the Enforcement Directorate (ED) in Hyderabad on Friday, in connection with a massive Rs 101.4 crore bank fraud and money laundering case.
The high-profile investigation centers on two companies, Ramakrishna Electronics and Ramakrishna Teletronics (RTPL), accused of misusing bank loans for illicit activities. The ED’s probe, initiated after a complaint from Union Bank of India (formerly Andhra Bank), has uncovered a complex web of financial misconduct. The agency alleges that the companies, involved in mobile phone sales and marketing, secured loans under the Open Cash Credit (OCC) facility but diverted the funds through a series of internal transactions to benefit their promoters and their families.
The Central Bureau of Investigation (CBI) in Bengaluru had previously filed an FIR against the firms and their directors, V Raghavendra and V Ravi Kumar, identified as the masterminds behind the scheme. ED searches in Hyderabad, Kurnool, and Ghaziabad have yielded incriminating evidence, including documents tied to properties allegedly purchased with the siphoned funds.
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The agency has frozen Rs 1.45 crore in bank accounts linked to the accused and seized digital devices and records of foreign payments, hinting at the international scope of the fraud. Allu Aravind’s involvement in the case remains under scrutiny, with the ED exploring his potential connections to the accused. Neither Aravind nor his team has issued a public statement regarding the questioning.
As the investigation deepens, the ED has signaled that more individuals may be summoned or detained. With the Telugu film industry watching closely, this unfolding scandal promises to keep the spotlight on one of its most prominent figures.
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