Bank scam: Couple arrested after 14 yrs

 HYDERABAD: A couple, allegedly involved in a cooperative bank scam of Rs 2.86 crore, landed in the net of the Crime Investigation Department after being on the run for 14 years.

Kakarlapudi Krishna Varma, 65, and his wife Padma alias Roopa, 50, employees of Kanyaka Parameshwari Cooperative Bank, were arrested by CID economic offence wing (EOW) from their native place Wadlapudi in Visakhapatnam, on Sunday.

On October 10, 2009, Annapurna, liquidator of the bank in Kukatpally, lodged a complaint with the EOW stating that the board of directors and employees had defrauded small depositors to the tune of Rs 2.86 crore and committed misappropriation by sanctioning benami loans, falsification of accounts and diverted funds for their personal gain, according to Mahesh M Bhawat, additional DGP CID.