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The YSR Congress party on Friday accused chief minister N Chandrababu Naidu of misusing his power to shield the accused in the Margadarsi scam, which was exposed by the Reserve Bank of India publicly.
Speaking to reporters, YSRCP SC Cell State President and former MLA TJR Sudhakar Babu said the chief minister was compromising the integrity of the Crime Investigation Department to protect the Ramoji family, who is at the centre of the controversy.
Sudhakar Babu pointed out that despite clear evidence collected by the CID in 2023, highlighting financial irregularities and illegal diversions by Margadarsi, the CID, under Chandrababu’s leadership, retracted its findings and filed an affidavit giving the company a clean chit.
He called this a blatant example of how governments whitewash crimes to protect fraudsters. He further criticized Naidu for openly misusing his position. “The Margadarsi case proves that anyone close to those in power can escape any crime."
He also targeted Eenadu newspaper, calling it a political mouthpiece for Chandrababu Naidu and accusing it of manipulating news to serve his interests in a classic quid pro quo arrangement.
Highlighting the severity of the situation, Sudhakar Babu revealed that despite earlier CID findings of RBI violations by Margadarsi, the current government suppressed this evidence under Chandrababu’s pressure, damaging the credibility of law enforcement.
He stressed that the issue is not a political feud but about protecting thousands of cheated depositors. He noted that assets worth Rs. 1,050 crore attached by the CID were released after Chandrababu Naidu came to power, enabling the scam further.
He also criticized Janasena and BJP for supporting Chandrababu, calling it a betrayal of public trust. He reaffirmed YSRCP’s commitment to stand with the victims and continue the fight against the misuse of power and systemic corruption in the Margadarsi case.
