Visakhapatnam: The Odisha CID (crime wing) arrested former MLA from Andhra Pradesh Malla Vijay Prasad over his alleged involvement in 2019 chit fund scam on Monday evening in Visakhapatnam.
According to the reports, the 52-year-old Vijaya Prasad is the chairman of Andhra Pradesh Education and Welfare Development Corporation and senior leader of the YSR Congress Party.
Vijaya Prasad's company Welfare Group of Companies has allegedly duped investors of around Rs 2 crore.
A case is also registered in his name at Dhanupali police station in Sambalpur. The Economic Crimes Branch (EOW) has registered the cases under IPC sections 406, 420, 467, 468, 471 and 120 (B) of the IPC.
