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Ex-Air Force Squadron Leader Convicted For Amassing Illicit Assets


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A retired Squadron Leader from the Indian Air Force, Polu Sreedhar, was found guilty by a special court for amassing unexplained wealth. He allegedly facilitated a land deal for a former Congress MP by channeling funds through his bank accounts.

Sreedhar faced accusations of holding ₹40.36 lakh in undisclosed assets. Despite health issues, the court denied him leniency. Sentencing arguments will begin in January 2024.

The Central Bureau of Investigation (CBI) initially suspected ₹11.9 crore transferred to Sreedhar’s accounts belonged to the MP, meant for a ₹12.5 crore land deal. The case against Sreedhar, the MP, and a bank manager was registered in 2016, but charges were filed only against Sreedhar in 2022 due to insufficient evidence for the others.

The CBI later reduced the suspected illicit assets to ₹40 lakh after finding the MP purchased the land with his own funds using Sreedhar’s accounts.

Sreedhar claimed income from investments and land deals, but the court found his explanations unconvincing due to lack of supporting documentation or disclosure to authorities.

Judge Ashwani Kumar ruled that Sreedhar failed to justify the unaccounted wealth and violated service rules by not reporting it. He highlighted the presumption of ill-gotten funds, especially with Sreedhar’s inability to provide evidence or disclose it to relevant authorities.

The court emphasized that Sreedhar’s health issues, though a concern, weren’t grounds for acquittal.

This case serves as a stark reminder of the seriousness of financial misconduct, even for well-respected individuals. Sreedhar’s conviction holds him accountable for his actions and sends a strong message about transparency and integrity.

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