CA Sansaar
CA Arrested in Connection with GDCC Bank Fraud Case in Guntur
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The Central Crime Station (CCS) police in Guntur have arrested a Chartered Accountant in connection with the alleged financial mismanagement and fund diversion at the Nallapadu GDCC Bank. The accused, identified as Kunisetty Siva Naveen, was apprehended on Thursday, May 7, 2026, near a bus stop located opposite SBI Bank in Nagarampalem area of Guntur city. He was later presented before the court on Friday, May 8, and was sent to judicial custody for a period of 14 days.
The arrest operation was conducted under the supervision of CCS DSP B.V. Madhusudana Rao based on instructions issued by Guntur Superintendent of Police Vakul Jindal.
According to police officials, the case relates to alleged large-scale financial irregularities and violation of banking procedures within the Nallapadu GDCC Bank. Former bank officials and committee members, including ex-manager Devarakonda Aruna Kumari, former CEO Thorlikonda Krishnaveni, former chairman Ratamsetti Seetharamanjaneyulu, also known as Lalupuram Ramu, along with several others, are under investigation for allegedly causing substantial financial losses to the cooperative bank.
Investigators stated that Siva Naveen, who served as a professional director on the bank’s governing body in the capacity of a Chartered Accountant, allegedly supported and approved certain decisions taken by the former chairman and other board members, which are believed to have contributed to the irregularities.
Based on the findings, police registered a case at the Nallapadu Police Station under multiple sections of the Indian Penal Code related to criminal conspiracy, cheating, breach of trust and forgery. Authorities further stated that efforts are continuing to locate and apprehend other accused persons who are currently absconding in connection with the case.
The arrest operation was conducted under the supervision of CCS DSP B.V. Madhusudana Rao based on instructions issued by Guntur Superintendent of Police Vakul Jindal.
According to police officials, the case relates to alleged large-scale financial irregularities and violation of banking procedures within the Nallapadu GDCC Bank. Former bank officials and committee members, including ex-manager Devarakonda Aruna Kumari, former CEO Thorlikonda Krishnaveni, former chairman Ratamsetti Seetharamanjaneyulu, also known as Lalupuram Ramu, along with several others, are under investigation for allegedly causing substantial financial losses to the cooperative bank.
Investigators stated that Siva Naveen, who served as a professional director on the bank’s governing body in the capacity of a Chartered Accountant, allegedly supported and approved certain decisions taken by the former chairman and other board members, which are believed to have contributed to the irregularities.
Based on the findings, police registered a case at the Nallapadu Police Station under multiple sections of the Indian Penal Code related to criminal conspiracy, cheating, breach of trust and forgery. Authorities further stated that efforts are continuing to locate and apprehend other accused persons who are currently absconding in connection with the case.
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