Ramesh Kadam, National Congress Party(NCP) legislator has been accused of funneling 141 crore rupees from a state run body was arrested by the CID in the wee hours on Monday in a five star hotel on the Pune-Ahemdanagar road.
Kadam, working as chairman of the government-run Annabhau Sathe Development Corporation (ASDC), reportedly carried the funds to organisations headed by him. The money, according to CID officials, was meant for the welfare of backward communities for whom the corporation was set up.
The CID started scouting for Kadam on July 20, a day after he was booked for his involvement in the scam. Following his arrest at the Grand Hyatt, CID took Kadam to Navi Mumbai for further investigation.
The charges against Kadam include illegally sanctioning Rs 41 crore to Joshaba Central Cooperative Society, an organisation controlled by him.
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