What happened
India's Directorate of Enforcement (ED) said on 13 November 2026 that its Visakhapatnam office provisionally attached immovable properties worth Rs 18.33 crore belonging to Kallam Peri Reddy and his associates under the Prevention of Money Laundering Act, 2002, in a case related to Kallam Modern Rice Mills Private Limited. According to the ED post and a United News of India report the same day, it is alleged that loan facilities were obtained from the State Bank of India by submitting fake or forged documents, causing a loss of Rs 18.33 crore to the bank. These are allegations; no court finding has been reported.
How the scam works
A charge, an arraignment, a witness's testimony or a prosecutor's accusation is not a finding of guilt. People and companies named in these reports are accused, charged or, where the source says so, convicted or sentenced, and they are presumed innocent unless and until a court finds otherwise. Do not treat a news report or a press release as a substitute for a court judgment. If you think you were affected by the same kind of scheme, keep records and report them to the investigating agency named in the source, or to your local police and your bank.
If a message, a page or a caller creates urgency about money, a login or a legal threat, pause and check the claim through a contact method you already trust. Keep screenshots, reference numbers and the exact addresses or phone numbers you were given, and tell your bank early if money has already left the account. Official brands and authorised firms named in a lure are not involved unless a primary source says otherwise.
Source
Source: https://x.com/dir_ed/status/2121218358792376629 (@dir_ed, Nov 13, 2026, 7:27 AM ET); https://x.com/uniindianews/status/2121228339352572208 (United News of India, 13 Nov 2026)
