CID officials directly landed from Hyderabad to Kadapa to conduct an inquiry on Kollam Brahmananda Reddy who is brother of Red Sandalwood Smuggler Kollam Gangi Reddy. Brahmananda Reddy was worked as Chairman of DCC Bank Kadapa for 7 years. Many allegations against him that on dummy loans from the bank. Brahmananda Reddy was misused his power and took the loans in different names.
Brahmananda Reddy also leader of YSRCP was worked for the victory of Railway Kodur MLA Srinivasulu Reddy in 2014 General elections. People took dummy loans from KDCB when he was Chairman in and around Rajampet, Railway Koduru and Pullampet. CID officials came to DCC Bank and analyzed details of loan holders.
CID took land, address and PAN records from the bank and compared the addresses. It came to be known that most of the records are not genuine. Reportedly, Bank entered wrong addresses in its register. There was an amount of 70 lacs of loans disbursed when Brahmananda Reddy as Chairman. CID will take complete list of the loan holders on Friday from the Bank. Brahmananda Reddy entered into politics when YSR was CM and remain with Jagan after the death of YSR.
