A special CBI court found former Kadiri MLA and TDP leader Kandikunta Venkat Prasad guilty of swindling Rs 4 crore from a State Bank India (SBI) branch using stolen Demand Drafts. It sentenced him to five year jail term.
In 2003, Venkat Prasad had colluded with Hussaini Alam SBI branch assistant manager Narsinga Rao and sub-inspector Venkat Mohan to withdraw the money. The court also held the bank official and the SI guilty and awarded them three years of imprisonment. The court also imposed a fine of Rs 5.10 lakh on Venkat Prasad, Rs 45,000 on Narsinga Rao and Rs 35,000 on Venkat Mohan.
