Hyderabad: Six more people, including the alleged mastermind of Chunduri Venkata Koti Kumar, was arrested for their role in RS 64.5 Crore Telugu Academy Fixed Druged Fraud on Wednesday.
Besides Sai Kumar, a businessman from Hyderabad, his partners in Cirme – Telugu Academy Account Officer Segoori Ramesh, Chandanagar Branch Manager Canara Bank M Sadhana, n Venkata Raman from Tanuku, Venkateshwar Rao alias Dr.
Venkat from Khammam and Somashekhar, Dharmavaram – Have Arrested.
Police Commissioner Hyderabad Anjani Kumar said Sai Kumar had committed a similar violation in the past and he hit FD fraud and executed with the help of being accused of others.
The defendant cheatedly attracted 43 permanent deposits (FDS) Telugu Academy from Union Bank of Karwan and Santosh Nagar Branch and Branch Chandanagar Canara Bank between December 2020 and September 2021, CP said.
To execute fraud, Sai Kumar has contacted the Telugu officer of the Ramesh Academy, who handed over a check to Somasekhar and Venkat to deposit them at the bank as a deposit remain on behalf of the Academy.
“The defendant initially deposited the number in the false Academy Telugu Account made at the AP Mercantile Cooperative Credit Society Ltd using fake documents and from there was transferred to AP Cooperative Credit Society Society accounts at Agrasen Bank, Siddamber Bazar.
From Agrasen Bank, the defendant withdrew cash and distributed it Among them, “said Commissioner with Hyderabad from Police Avinash Mohanty.
Anjani Kumar said the fraud was executed with active tensions of bank officials and their responsibilities were with banks to compensate for money, which are included in the Telangana government.
Avinash Mohanty said the defendant had deposited a check issued by the academy at the bank and ordered FDS for the short term using fake letters.
After the deposit maturity, they transferred the amount to the Telugu Academy account made in the Society Credit Cooperative AP Mercantile.
“Acceptance of fake FD for a different period of time sent to Telugu Academy said the details provided by bank officials,” said CP together.
Sai Kumar and his colleagues told Telugu Academies and Bank officials that they used the amount for investment and money purposes would be returned before the maturity date of the deposit was mentioned in the original letter issued by the check.
“We will look for police prisoners from the defendant to collect more details,” Mohanty said.
In the case of FD fraud, three fir has been registered so far based on a separate complaint from Bank and Telugu Academy officials.
CCS has captured the Union Bank of India, Karwan, Head of Mastan Vali Manager, AP Mercantile Cooperative Credit Society Limited, Vijayawada, Chair / MD Satyanaryana, Society, Manager (Operation), Hyderabad, V Padmavathi and AP Mercantile Counterative Credit Society Ltd Relationships Manager SYED Moiuddin.
The investigator said 10 to 11 people were more likely to be captured in this case.