Hyderabad: A major embezzlement case has come to light in Hyderabad. A CID investigation has revealed that Rs 55 crore of minority funds were siphoned off by four officials of the state-run Minority Finance Corporation.
The CID conducted searches at the corporation's offices following a complaint filed by the Secretary of the Minority Welfare Department. The CID found that 55 out of the Rs 80 crore that were sanctioned by the government for minority students scholarships had been siphoned off using a fake bank account.
Four officials have been arrested in connection with the case.