Hyderabad | July 31,2025 |SKY LINK TIMES
In a major crackdown, the Telangana CID has arrested two key accused in a Rs 140 crore scam linked to the Mudra Agriculture Skill Development Multi-State Co-operative Society, which allegedly defrauded over 2,000 victims, including farmers, daily wage earners, and job seekers.
“This scam exploited the trust of common citizens under the guise of government schemes. We are committed to bringing all culprits to justice,” said CID Chief Charu Sinha.
The arrested include the society’s Chairman Thippeneni Ramadasappa Naidu from Amaravati and member Thippeneni Sai Kiran from Hyderabad. The duo falsely claimed association with the Pradhan Mantri Mudra Yojana (PMMY), misleading the public with promises of high interest returns and government-backed employment.
CID investigations revealed the society expanded rapidly with 330 branches and 1,600 employees across multiple states. Desperate job seekers were reportedly asked to deposit funds as share capital, submit original certificates, and were assigned unrealistic recovery targets.
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Victims faced salary denials, threats of defamation, and in many cases, their original educational certificates were withheld. Funds collected were diverted into personal investments, including industrial plots through APIIC Ltd in Andhra Pradesh, according to CID Chief Charu Sinha.
The CID is currently following the money trail, aiming to uncover the complete network of accomplices and recover embezzled funds.
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