CID probe indicates involvement of big fish. The magnitude is likely to assume gigantic proportions.
The magnitude of ‘One Card One Nation’ scam that was exposed with the arrest of its MD Sai Kumar by the CID is poised to pull up many more bigwigs than the functionaries of the minority finance commission, and its magnitude too is likely to be far higher than `55 crore, as was originally thought. Consequently, banks, government officials and middlemen are likely to figure in the racket.
The reading as per the CID probe, indicates that the scam is likely to be in the realm of `500 crore.Started with much fanfare ‘One Card One Nation’ was to obviate the need of many cards. It was billed to be inaugurated by President Pranab Mukherjee on November 25. The Onecard Techno company had reportedly received the nod from the president too but with the company chief’s arrest it may be called off.
The scam involved fraudulent withdrawal of deposits and channelling it to buy large swathes of plots. The preliminary case says some 140 acres of land in Kottur mandal of Mahbubnagar district were bought in this manner by Kumar and his associate Anwar Chatti.
However, it is feared that fixed deposits of many governmental agencies have been fraudulently withdrawn and the scope of investigation has been enlarged to examine the magnitude of the scam.Four are currently in CID custody — Sai Kumar,B Kishore, Venkat Raman, and Naveen Sagar. Anwar Chatti has bolted, CID sources said. Two teams have been formed to nab him. Anwar Chatti is a resident of Mamadpally village of Pahadishareef and he runs a dairy farm.
The investigation, if allowed to take its course, will expose ministerial aides and senior officials besides bank managers, CID said. Officials reasoned that without the bank’s connivance such scams are unlikely.
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I have been working as a crime reporter in Hyderabad for the past 17 years. I was encouraged to be a journalist by my late father. As a journalist I try to do something unique for society, especially the poor who suffer the most.