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Asst bank manager, 3 others arrested in fraud case
Malkajgiri police arrested four persons on charges of banking fraud, including an Assistant Manager of Bank of Baroda, Malkajgiri Branch, on Tuesday. According to Malkajgiri police, the prime accused N Venkat Raman, 43, of Kondapur, who was arrested by CID police in 2012 for embezzlement of Rs 90 crores from Minorities Finance Corporation was on bail.
Hyderabad: Malkajgiri police arrested four persons on charges of banking fraud, including an Assistant Manager of Bank of Baroda, Malkajgiri Branch, on Tuesday. According to Malkajgiri police, the prime accused N Venkat Raman, 43, of Kondapur, who was arrested by CID police in 2012 for embezzlement of Rs 90 crores from Minorities Finance Corporation was on bail. He again conspired to commit crime by securing FDR (Fixed Deposit Receipts) quotations from Bank of Baroda, along with his accomplices and defrauded Rs 3 crore.
The other accused who were arrested are Merugu Srinivas Rao, 41, of Balanagar, Peter Anthony, 63, of Rezimental Bazar, Tadi Rajani, 40, Assistant Managar, Bank of Baroda. “Venkat connived with K S Rao of the Commercial Tax Department and his friend Laxman Rao, who arranged deposits from various government agencies for getting the funds.
They secured FDR quotations from Bank of Baroda and handed over them to KS Rao who sent them to BIE AP and arranged to transfer Rs 3 crore to Bank of Baroda,” the cops said. The police recovered a laptop, printer, pen drive, cheque books, cheques, debit and credit cards, rubber stamps and seals, Rs 60,000 cash, along with two motorbikes and six cell phones. Eight others involved in the crime are absconding.
