After the exposure of embezzlement of crores of funds released for the scholarships of poor and deserving students in state Minority Finance Corporation, crime investigation department has intensified its probe into the case and sought custody of 4 accused. Filing a petition before 6th additional chief metropolitan magistrate of Nampally criminal court, the CID officials have appealed to remand, kingpin of the scam Sai Kumar and his three friends, into 7-day police custody.
CID told to the court that various teams of the investigative agency are working to unveil the 56 crore rupees scam and are trying to recover embezzled amount.
The hearing on the petition will be held on Monday. Investigative agency suspects that some top officials of the corporation had knowledge of the scam but they were ignoring it for the sake of commission.
Siasat news