CBI in their latest raids have got up 33 offices and group of compaines across 5 states belonging to noted tollywood producer and also former congress MLA .
It was none other than YSRCP leader Malla Vijaya prasad who is also having connection with the chit fund cheating scam. This scam is having hundreds of crores involving in it. CBI carried out aboout 82 locations in andhra pradesh along with Odisha, Bihar, Jharkhand and West Bengal, including the former MLA’s official residence in Vizag. During the raids, the CBI seized Rs. 44.90 lakh in cash from the his residence.
As per the reports, Malla Vijaya Prasad’s company Welfare Building and Estate Limited illegally collected huge deposits from public on false promises of unbelievable returns, by purchasing lands, conducting private placements, issuing shares or debentures and other such pretexts.