[ads2] CBI carried out raids on former Visakhapatnam MLA Malla Vijay Prasad who’s working Welfare Group of corporations throughout the nation. The CBI has raided his home and recovered forty four lakhs from Vijaya Prasad. It’s learnt that Malla Vijaya Prasad is doing actual property enterprise in eighty two areas within the nation. not solely that Vijaya Prasad is the managing director of the chit fund firm which operates in AP, Telangana, Jharkhand, Bihar, Odisha and West Bengal.
CBI on Wednesday conducted raids on 33 offices and group of companies across 5 states belonging to noted Tollywood producer cum financier and former Congress MLA and current YSRCP leader Malla Vijaya Prasad in connection with an alleged chit fund scam involving hundreds of crores.
It’s alleged that Malla Vijay Prasad had raised cash from depositors within the type of chit funds claiming to supply increased pursuits, and later diverted the cash to his private accounts in violation of the Reserve Financial institution of India tips.
As per our sources CBI officers reportedly additionally seized a number of essential paperwork in relation to this case which can lead Vijaya Prasad in to hassle. Alternatively Malla Vijaya Prasad additionally produced few Telugu movies beneath his Welfare Creations Banner just lately he introduced a brand new movie with new faces.