College Chairman Opens Accounts On Lecturers’ Names, Deposits Huge Cash

A college chairperson was arrested in Vijayawada for opening fake accounts in the name of his staff members.

According to the police, Mahatma Gandhi Women's College chairperson Kantha Rao has opened accounts in the Tamil Nadu Mercantile Bank of One Town area in the name of his college staff members without their knowledge and deposited several lakhs of rupees. Through this, he planned to convert black money into white money.

However, one of the woman lecturers of the college grew suspicious when she got an SMS stating that lakhs of rupees were deposted in her account. She lodged a complaint with the police, who began investigating. They soon found out that college chairperson Kantha Rao had opened accounts on their names without informing them and deposited huge amounts of cash.

The police said they are probing into the role of bank officials in opening the bank accounts.