CBI likely to issue FIR in another 2 days.
Hyderabad: The CBI has sought more details from the Malkajgiri police and the complainant in the State Bank of Hyderabad fixed deposit fraud case. Sources said that the CBI is likely to issue an FIR in the next two days.
The Hyderabad High Court ordered the probe and the CBI is trying to get more information regarding the frauds committed by the racketeers in both AP and TS.
A CBI source said,”We are seriously working on the case. So far three cases of cheating have been detected. We are also working on other information.”
The amount involved in the fraud at the SBH’s Malkajgiri and Khammam branches have touched Rs 38 crore. The cops also found that '18 crore belonging to undivided AP Housing Board which was parked with the Ghatkesar branch was also siphoned off.
The modus operandi of the gang is to withdraw money from the account of the official liquidator by using fake authorisation letters. The money was deposited from sick companies. The same method was adopted for siphoning off the money of APHB too.
Police identified one Ramana Rao, 60, a resident of Vimala Devi Nagar of Malkajgiri and a retired SBH employee and one Mr Venkatesh, a resident of Malkajgiri and Damodaran Mani, the son of Mani Subramanyan and a native of Chennai as the prime accused in the case. They opened accounts across the country and transferred money to them.
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( Source : deccan chronicle )
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