Accused in Soya Bean Meal fraud arrested

Hyderabad, Feb 2 (UNI) In a sensational case relating to export of Soya Bean Meal fraud, worth Rs 87 lakh, police today arrested one of the main accused D Srinivas Rao here.

On interrogation, the accused confessed that he had committed the offence along with his son-in-law V V S R Narsimha Rao and Ch Sathya Mohan.

He sold the export quality Soya Bean Meal for Rs 1.10 crore and misappropriated the sale proceeds, without paying APSTC Ltd and committed cheating and breach of trust, he added.

The accused was arrested and produced before the 12th Additional Chief Metropolitan Court for judicial custody, a press release said here.

UNI