TDP chief N Chandrababu Naidu was arrested in connection with an alleged Rs 550 crore fraud case involving siphoning off funds from Skill Development Corporation, AP CID Chief N Sanjay said on Saturday.
Addressing reporters after Naidu’s arrest, the police official said the investigation implicated Naidu and TDP as beneficiaries of misappropriation of funds.
“The principal conspirator behind the entire scheme and who orchestrated the transfer of the public funds from government to private entities via shell companies has taken place with the act of leadership of Shri Nara Chandrababu Naidu,” he said.
He possesses the exclusive knowledge of transactions leading to the issuing of government orders and MoUs from time to time which makes him the central figure of the investigation, he added.
Naidu was arrested in an early morning police operation, which involved officers knocking on the door of the caravan in which he was sleeping.
The former CM was arrested by the CID around 6 a.m. from a marriage hall (outside which his caravan was parked) at Gnanapuram in Nandyal town, police said.