Guntur district CCS police arrested a man for allegedly misappropriating funds at the Nallapadu GDCC Bank. The accused, Kunisetty Siva Naveen, was taken into custody on Thursday (May 7, 2026), at a bus stop opposite the SBI Bank in Nagarampalem, Guntur city. He was produced before a court on Friday (May 8) and remanded to 14 days of judicial custody.

The arrest was made under the supervision of CCS DSP B.V. Madhusudana Rao following directions from Guntur Superintendent of Police Vakul Jindal.

The case pertains to alleged large-scale financial irregularities in the Nallapadu GDCC Bank involving former manager Devarakonda Aruna Kumari, former CEO Thorlikonda Krishnaveni, former chairman Ratamsetti Seetharamanjaneyulu alias Lalupuram Ramu, and other committee members. They are accused of violating banking norms and causing heavy financial losses to the institution.

Police said Siva Naveen, a chartered accountant nominated as a professional director on the bank’s governing body, allegedly supported decisions taken by the then chairman along with other members, contributing to the irregularities.

A case was registered at Nallapadu police station under various IPC sections, including criminal conspiracy, cheating, criminal breach of trust, and forgery. Police said efforts are under way to trace other absconding accused in the case.