Hyderabad ED charges former IFS officer Akula Kishan in Rs 23 crore fraud case
Hyderabad: Enforcement Directorate(ED), Hyderabad Zonal Office, has filed Prosecution Complaint (PC) before the Special PMLA Court, Hyderabad, against Akula Kishan former IFS Indian Forest Service(IFS) and others under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The Court took cognizance of the PC on 13.08.2025.
ED initiated a PMLA investigation based on an FIR registered by the CID Police Station, Hyderabad. The predicate case pertains to alleged violations wherein A. Kishan, while holding an official position, colluded with other individuals and private entities to misappropriate funds from the Andhra Pradesh Women’s Co-operative Finance Corporation (APWCFC). The fraudulent activities, which occurred between April 2005 and 2008, involved irregular appointments, unauthorized land transactions, and procedural violations to facilitate irregular purchases. He also misused APWCFC properties by leasing or renting portions of its buildings, withdrawing large sums of money dishonestly, and causing significant financial loss to the corporation and the Government exchequer.
The Anti Money Laundering Investigation’s agency probe revealed that A. Kishan, while serving in APWCFC, made illegal appointments and promotions without requisite approvals to secure the loyalty of certain individuals, and later utilised them to disburse Rs. 15.39 Crore loans to ineligible and related persons and benamis without proper sureties or documentation, often based on handwritten notes under the Indiramma Mahila Upadi Pathakam (IMUP) loan program.
Further, A. Kishan, along with CEO V. Santosh Kumar, opened secret bank accounts, executed fake agreements, collected Rs. 7.5 Crore in the name of APWCFC, and diverted funds to personal accounts and associates. He also purchased computers, laptops, software, cell phones, printing machines, and vehicles without tenders, at inflated rates, thereby causing monetary gain to himself. Consequently, A. Kishan defrauded APWCFC and others, causing wrongful loss amounting to Rs. 23.46 Crore and utilised the Proceeds of Crime for his personal benefit.
ED had earlier attached immovable properties, belonging to A. Kishan and others, worth Rs. 1.26 Crore under the provisions of the PMLA, 2002.
