Hyderabad: The Rs 8.74 crore siphoned off from SBH's Mallikarjunanagar branch was diverted to YES bank, Punjab National Bank, Axis Bank, ICICI Bank and Central Bank of India's branches at Mumbai and Rajkot. The fraudsters have already withdrawn money from some accounts while some accounts from which money have not been withdrawn has been freezed.
Cyberabad police teams are examining accounts in different banks. Although there were reports that the case has been transferred to the CBI the police is continuing the investigation and efforts are on to trace Mani Damodar, who is suspected to be the kingpin behind the fraud.
During investigation cops found that the amount was transferred to 13 accounts in banks across Mumbai and Rajkot using fake authorisation letters of the liquidator carrying forged signatures.
“We are yet to trace Mani Damodar who can reveal details regarding this scam. Once he is caught we will know if any bank officials are involved,” said Malkajgiri ACP M. Ravichandan Reddy.
The HC appointed liquidator had deposited Rs 8.74 crore linked to the assets of the disputed companies whose trial is pending in High court as fixed deposits.
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