CBI has arrested an absconding accused in a case relating to alleged fraudulent withdrawal of Fixed Deposits from State Bank of Hyderabad.
New Delhi : The Central Bureau of Investigation has arrested an absconding accused (private person) in a case relating to alleged fraudulent withdrawal of Fixed Deposits from State Bank of Hyderabad.
A case was registered on 17.12.2015 relating to alleged fraudulent withdrawal of Fixed Deposits against then employee of State Bank of Hyderabad and 11 others on the orders of Hyderabad High Court dated 8.12.2015. It was alleged that an amount of Rs.9.86 crore (approx) was transferred from the Office of Official Liquidator, High Court, Hyderabad to State Bank of Hyderabad, Malkajgiri Branch, Hyderabad to issue Fixed Deposits in the names of various companies in liquidation. Accordingly, on 20.10.15, the Branch Manager, SBH, Malkajgiri sent the FDRs in favour of a private company through then employee of Bank. During verification by the Official Liquidator, the Branch Manager, SBH, Malkajgiri informed that one of the FDRs worth Rs.8.45 crore(approx) issued in favour of said private company was prematurely closed under the purported instructions issued by the Liquidator’s Office. Further, it also came to light that the FDRs in possession of the Official Liquidator were fabricated.
Searches were conducted during January, 2016 at the residence of accused persons including the then Branch Manager. Further, the said bank employee was arrested on 22.01.2016 and is presently in judicial custody.
During investigation, role of the said private person was discovered in the fraud. Hence searches were conducted at his residential premises at Singarayakonda Village & at Hyderabad on 25.02.2016 which led to recovery of cash of Rs.31.08 lakh(approx); investments to the tune of Rs.99.28 lakh(approx) and other incriminating documents. The said person was absconding.
The arrested accused is being produced today before the Principal Special Judge for CBI Cases, Hyderabad.
