Another Nagarjuna official held

Hyderabad: Immigration officials at Indira Gandhi International Airport, Delhi, arrested Gokaraju Satyanarayana Raju, an accused in the Nagarjuna Finance Ltd case, in the wee hours of Saturday while he was waiting for immigration check to fly to Israel.
Earlier Central Crime Station investigators had arrested Nagarjuna Group chairman and NFL founder director KS Raju and another former director P K S Madhav, who is now Maytas Infra , CFO on December 15 for cheating thousands of depositors. They had also issued lookout notices against other NFL officials.
A team of CCS investigators who had gone to Delhi brought G S Raju to Hyderabad late Saturday night. According to CCS inspector S Sharat Kumar, GS Raju was one of the directors of the NFL and was one of the 17 accused in the crime number 575/2003 under sections 420 (Cheating), 406 (Criminal breach of trust) of the Indian Penal Code and section 5 of the Andhra Pradesh Protection of Depositors of Financial Establishments (APPDFE) Act registered at CCS, Hyderabad.According to police, GS Raju was planning to start his own business.
"During the questioning, GS Raju said that he was on his way to Israel on business purpose," the CCS police said.Between 1997 and 1998, NFL had collected Rs 98.3 crores in the form of deposits from 85,160 people across the nation and regarding this 94 cases had been registered at CCS.
05/01/09 Times of India

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Categories: Airports Jan 2009