Alert bank staff foils cheque fraud

Hyderabad: Alert bank officials foiled an illegal fund transfer of Rs 8 crore from a private firm to an individual’s account in Habsiguda. The police arrested three persons, including a techie, in connection with the fraud, while five persons are absconding.

Ch. R. Umamaheshwara Sarma, DCP Malkajgiri, said that three persons approached a private bank at Habsiguda and presented a cheque for Rs 8 crore for transfering it to the savings bank account of Ch Shyamsundar. The cheque belonged to Herbalife India International Private Lim-ited. When the cheque was sent to the branch manager for authorisation, he smelled a rat and immediately contacted Herbalife, which denied issuing the cheque. One person was nabbed, while two others fled but were later identified.

 “Five cheques with the same number were used for electronic transfer at different banks across the country. But since it was already reported lost by the firm, it was not processed and the suspects failed four times.