CID set to grill Rizvi

Published: 15th October 2012 12:05 PM  |   Last Updated: 15th October 2012 12:05 PM   |  A+A-

A day after the state government had suspended former managing director of AP State Minorities Finance Corporation Mohammed Ilyas Rizvi, the crime investigation department police are all set to grill him in connection with the Rs 55. 47-crore scam that took place in the corporation.

According to sources, one of the teams of CID will knock the doors of Rizvi’s house shortly to question him on the scam. The CID arrested four persons  including Sai Kumar on October 11 for fraudulently withdrawing Rs 55.47 crore belonging to the AP State Minorities Finance Corporation by opening a fake current account with Vijaya Bank in the name of the State Minorities Finance Corporation and issuing 240 cheques. The accused allegedly collected a whopping Rs 400 crore as deposits from various corporations with the assistance of the co-accused and others. They are believed to have confessed to their crime and spilled the beans on the involvement of other officials in the case. 

Four special teams have been formed to work on this case.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp