Hyderabad: Central Crime Station (CCS) sleuths on Monday arrested five accused, including the team leader, cash custodians in Logicash ATM fraud case where Rs 1.88 crore new currency was swindled from various ATMs in Hyderabad during replenishment post demonetisation. He found that the accused purchased real estate with the cash in his and spouse name.
Investigations also found that the gang exchanged Rs 85 lakh old currency of a 19-year- old event manager. CCS Deputy Commissioner of Police Mr Avinash Mohanty said that Income Tax Department will be notified by the CCS regarding the event manager. According to Mr Mohanty the arrested were identified as B Vinay Kumar 31 the team leader of Logicash and a resident of New Bowenpally, K Nagaraju 24 a senior custodian and resident of New Bowenpally, Ch Srinivas, 26, a senior cash custodian and resident of Macha Bollarum, D Sai Kumar, 23, a senior custodian and a resident of Shamirpet, Teak Raju, 44, a private chits organiser and resident of West Marredpally. The accused committed the offence on 20 per cent commission basis. Police recovered Rs 1.09 crore apart from documents of two open plots, gold ornaments worth Rs 2.00 lakh, a Pulsar motorcycle, TVS Jupitor (two wheeler), two laptops and five cell phones.
CCS inspector of police Mr Kiran Kumar said, “The event manager Samrat that is also known as Baba and is a resident of Trimurthy Colony in Tukaramgate has stocked up money at home for his marriage and also savings as part of real estate business. His mother’s and maternal uncle’s money, too. was included. Samrat gave Rs 85 lakh to the accused Vinay through one Raju and got Rs 70 lakh in new currency, mostly Rs 100 and Rs 2000 notes. Samrat is unaware of the ATM fraud as he was contacted by them stating that they are doing commission business. So we haven’t booked any case against him. Raghu, a driver who stocked Rs 26 lakh for his daughter’s marriage, also exchange cash.”
The complaint was filed by Mr J Suresh Kumar of Trans Treasure Services India Pvt. Ltd. which is a sister concern of Logicash solutions Pvt. Ltd.
