Hyderabad: Hyderabad Police arrested six people, including Mastermind, Chunduri Koti Venkata Sai Kumar at Rs 64.5 Crore Fixed Deposit Fraud Telugu Academy on Wednesday.
Defendants Segoori Ramesh, account officer in Telugu Academy, M Sadhana, branch manager of Canara Bank Chandanagar, Chunduri Venkata Koti Sai Kumar, a businessman from Hyderabad, colleagues, N Venkata Raman, Venkateshwar Rao alias Dr Venkat of Khammam and Somashekhar, a realtor of Dharmavaram.
, According to the Hyderabad Police Commissioner, Anjani Kumar, the main charge, Sai Kumar, who has a history of doing similar scams have masterminded the entire fraud and carry them out with the help of other defendants.
The defendant fraudulently withdraw 43 Fixed Deposit (FD) of Telugu Academy of Karwan and Santos Nagar branch of Union Bank and Canara Bank branch Chandanagar between December 2020 and September 2021.
In order to carry out the fraud, Sai Kumar contacted Ramesh Sai Kumar handed over the check to the association, Somasekhar and Venkat for their deposits in the bank as fixed deposit.
“The defendant was initially store the amount in the account Academy Telugu fake made in AP Mercantile Cooperative Credit Society Ltd using false documents and from there transferred to the account of the Account Credit Cooperative AP Mercantile Bank Agrasen, Siddiamber Bazar, defendant, withdraw cash and share among them “Joint Commission Avinash Mohanty.
said.