
Rayapati has scammed money of Rs. 7,926 from the bank and used it for personal use. Transstory Limited owned by tdp mla rayapati created fictitious companies and took loans from the banks worth Rs. 7, 926 crores. The cbi has alleged that the companies are non-existing and are created to operate fraudulent activities with the help of employees.
Another Ex-MLA Tadisetti venkatarao also scammed Rs. 70 crores and the case is under cbi investigation. He showed tobacco business and took loans from banks to develop the business. However, the loans are used for personal use. cbi is currently investigating this case.
People of guntur are in a dilemma as to whom to blame in these multiple frauds of political leaders.