Cops want to open chest with crook's help

Koride Mahesh / TNN / Jul 1, 2006, 02:12 IST

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The CID found out that Venkateshwara Rao had Rs 6.5 crore worth shares in various security firms in Mumbai.

Cops want to open chest with crook's help

HYDERABAD: If the court grants custody of former Krushi chief Kosaraju Venkateshwara Rao to the police, the first thing they plan to do is open an 'electronic chest' in Kanakavarsha securities located at Abids.
It was seized by the Crime Investigation Department (CID) four years ago but its sleuths could not open it as the chest needed a password. Officials suspect, the former chairman of Krushi Bank might have kept important documents pertaining to shares and properties and even cash in the chest.
The CID found out that Venkateshwara Rao had Rs 6.5 crore worth shares in various security firms in Mumbai. A petition before the Metropolitan Sessions Judge was filed on Thursday seeking Rao into police custody for 10 days.
The hearing on the petition was postponed to Saturday as the counsel for Rao sought to file a counter. "Ten days are sufficient for us to question him about his assets and properties and who else was involved in the scam.

We will question him in Hyderabad only and subject him to a lie detector-test if necessary," a CIDofficial said. The sources said the CID would give top priority to unearth the undisclosed properties of Venkateshwara Rao.
The questionnaire, which was prepared by the investigating agency, has more to do with his properties, where he had stashed away the entire money and also who helped him flee the country.
During interrogation, the police will throw some light on his bank accounts and properties in Thailand and Singapore. The CID officials suspect he might have bank accounts in Bangkok as he ran an exports business under the brand name of 'Gowthami International' in the Central Bangkok district.

When the special team recently visited Bangkok to bring him, they did not inquire about his properties or bank accounts as the agreement between the two countries was only on extradition of the fugitive.
"If the former chief of Krushi bank reveals about his bank accounts in Bangkok, the CID has to apply for further investigation in Bangkok again through Ministry of External Affairs, Indian Embassy in Bangkok and attorney general of Bangkok," a senior police functionary told the TOI.
Meanwhile, the investigation agency has begun efforts to auction the properties which are in the name of his relatives. Properties worth Rs 10 crore have already been identified at various places in the state.
The properties include a house, 18.46 acres of agricultural land and a mango farm over 54.84 acres at Ventrapagada in Krishna district, native village of Venkateshwara Rao.
The CID also found out that his close relatives have 16.07 acres of land in Sabbavaram mandal in Visakhapatnam district. The police also seized about one kilogram gold from a relative of Rao.

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