Extradited Krushi Bank Chairman remanded in judicial custody

Hyderabad, June 27 (UNI) Krushi Bank Chairman K Venkateswara Rao, who was extradited from Thailand in connection with cheating the depositors, was remanded to judicial custody till July 11 by a city court tonight.

Amid tight security, Rao was produced by a team of officials led by Deputy Inspector General of Police CV Anand before the Nampally Metropolitan Sessions Judge S Bhujanga Rao who remanded him to judicial custody till July 11 and sent him to Chanchalguda jail.

He was the first accused in the fraud case involving the bank and a non-bailable warrant was pending against Rao in connection with alleged swindling of Rs 32 crore of the depositors.

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