‘Welfare’ Company Looted Crores
Visakhapatnam: 'Welfare Building and Estates Private Limited,' a company owned by former MLA and Visakhapatnam YCP leader Malla Vijayaprasad, illegally collected crores of rupees from the public. An investigation by the Enforcement Directorate (ED) revealed that the company raised ₹2,000 crore in violation of legal regulations. The ED found that the company had mobilized massive deposits under the guise of real estate business operations.
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