Former Andhra MP Arrested In Multi-Crore Bank Fraud Case

Kothapalli Geetha and her husband allegedly cheated the Punjab National Bank of Rs 42 crore, according to a charge sheet filed in 2015.

The Central Bureau of Investigation (CBI) arrested former Andhra Pradesh MP Kothapalli Geetha last night after she was convicted in a multi-crore bank fraud case along with her husband and two others.

She and her husband Ramakoteswara Rao allegedly cheated the Punjab National Bank (PNB) of Rs 42 crore, according to a charge sheet filed by the federal agency in 2015.

Vishveswara Infrastructure, whose managing director was Mr Rao, had taken a Rs 25 crore loan from PNB and the loan amount climbed to Rs 42 crore. On a complaint by the bank, the CBI had enquired Mr Rao and a charge sheet was filed in 2015. Ms Geetha was found to have diverted the funds from the company to another account.