"Though it was wrong, I used the state’s money to save my life," the bank director said.

Co-op bank ex-director claims he gave Rs 35 cr to gangster Nayeem as kidnap ransom
news Crime Wednesday, December 14, 2016 - 12:34

Former directors of a co-operative bank in Telangana allegedly transferred money to the tune of Rs 3.4 crore from the account of the state’s Income Tax department e-seva account to slain Maoist-turned-gangster Nayeemuddin.

Deccan Chronicle’s U Sudhakar Reddy reported that Electronically Deliver-able Services e-Seva commissioner GT Venkateswara Rao lodged a complaint with Central Crime Station in Hyderabad. 

This led to police registering a case of cheating and criminal breach of trust against Gokul Cooperative Urban bank ex-chairman Cheemala Jagadish Yadav and his associates.

“Gokul Cooperative Urban Bank is a full-fledged bank; we had opened an account for depositing e-Seva money. Whenever we presented cheques, they bounced. More than `3 crore is with the bank. We filed a criminal case with CCS,” an e-Seva official is quoted saying in the DC report.

Speaking to DC, the accused, Yadav claimed that he transferred the money only to save his life. He claimed that he had made an offer to repay the amount to the government coffers.

Yadav also claimed that he had written to CM K Chandrasekhar Rao about the same.

“In 2014, Nayeem, through his aides, abducted me and confined me at the Janaharsha Enclave in Ibrahimpatnam. He warned that he will take over the bank and threatened to kill me, stating that my head carries a weight (sic) of Rs 5 crore. So I paid Rs 3.5 crore in instalments in cash. The money is actually cash of e-Seva collections deposited in our bank. Though it was wrong, I used the state’s money to save my life,” DC quoted him as saying.

Naxalite-turned Muhammed Nayeem Uddin was killed in the Shadnagar Millenium Township in Mahbubnagar, Telangana after police exchanged fire with members of his gang in August.

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