If reports emerging from the government sources are to be believed. Former IT Minister Nara lokesh may be in trouble in Franklin Templeton and Fintech valley scams. The State Government has arrived at a conclusion that there are huge irregularities in allotment of land to Franklin Templeton in Vizag besides siphoning off public funds.
lokesh is facing allegations of bringing pressure on officials to allot 40 acres to Franklin Templeton while the Chief Secretary recommended just about 20 acres. There are allegations that lokesh pocketed crores of rupees from this excess land allotment and caused loss to the state exchequer. The government may book a case very soon.
Also, the government found proofs that lokesh siphoned public funds in the name of setting up Fintech Valley and promoting start-ups while there is no significant progress in the project. The cases may be filed after the Cabinet Sub-Committee submits its report about the massive corruption that happened during Chandrababu's rule.
