CBI gets custody of Reddy; told to probe erring bank officials

CBI special judge Venkataswamy dealing with bank fraud cases on expressing shock over the seizure of such a huge quantity of new currency, said, “While ordinary citizens were struggling standing in long queues to get a mere Rs 2,000 per head in ATM’s, how such huge quantum of cash were converted by the accused Shekar Reddy, Premkumar and Srinivasulu needed a thorough interrogation.” 

While referring to the other seizures made from the accused from different places which amounted to Rs 33.34 crore, the judge directed the investigating agency to find out how such huge quantity of currency reached the hands of the accused. He also directed the CBI to find out the truth about the bank officials involved in the conversion and bring them before the court.” 

In the meanwhile, the Judge also extended the remand of other two accused Rathinam and Muthupettai Ramachandran until January 17. Earlier, CBI special judge G Vijayalakshmi who refused to grant CBI custody of the trio had transferred the cases to the 11th CBI court based on CBI’s plea seeking transfer of all the cases to a court dealing with bank fraud.  CBI had arrested Reddy and his associates on December 21 following the ‘seizure’ of 127 kg gold and over Rs 170 crore in cash, including new currency notes.