A major brokerage scam has reportedly come to light in the implementation of the Indiramma Family Bima Scheme. It is alleged that some individuals have planned to siphon off hundreds of crores through this scheme. A plan has reportedly been devised to hand over the scheme's implementation to a private consortium and insert a brokerage company in between.
Sources indicate that a key leader's son-in-law is actively involved in setting up this brokerage company. The alleged scheme aims to pocket Rs 1200 crore over three years, targeting a 10% commission annually. The delay in IRDA approval for this matter has led to the postponement of the scheme's implementation.
Although the scheme was initially announced for implementation on June 2, it has since been put on hold. Information suggests that a deposit clause was introduced to quietly sideline LIC, reminiscent of the proverb, 'showing the egg and taking away the hen.'
Meanwhile, it appears that the Rs 1,800 crore funds in the Building and Other Construction Workers Welfare Board are also being targeted. There are reports that the government is considering dissolving the board and diverting these funds. Additionally, Rs 1,400 crore from the Rythu Bima funds are also reportedly being prepared for diversion.
It is understood that these fund diversions are part of a larger plan to secure Rs 4,000 crore for the Indiramma Bima scheme. Allegations suggest a significant conspiracy behind entrusting the scheme to this private consortium.
These developments are causing serious concern among the people of the state. There are accusations that some individuals are attempting to misuse public funds under the guise of welfare schemes. The public is demanding that the government immediately respond to this matter and ensure transparency.