Theft in Big Thief's House

This might sound unusual but the same thing happened for the former chairman of Krushi Urban Co-operative Bank, Kosaraju Venkateswara Rao.

After the Krushi Bank scam came to light, the CID police who investigated the case conducted searches and sealed the house of Kosaraju at Venkatrapragada village near Gudivada in Krishna district. Now, the same house was robbed by some unidentified persons.

However, there were many doubts on the theft at Kosaraju's house. The cops were suspecting that this might be the plan of the former chairman to move valuables in the house.

According to CID police, about 10,912 depositors had put in their money to the tune of Rs. 32 crores in the Krushi Bank. Kosaraju had illegally transferred Rs. 16 crore to his 37 accounts in fictitious names in different bank. Krushi Bank went into liquidty crisis on August 2001, as it had just Rs. 6 lakh cash balance. Kosaraju fled the country, as the crisis news got leaked. With the intervention of state government, the accused was arrested by the interpol in Bangkok and handed over to the AP police. Currently, the big thief is spending time in the Chanchalguda Central Prison.