Hyderabad: Sleuths of the Central Crime Station (CCS) here on Wednesday booked a case against some cash custodians of Logicash, an ATM logistics company, for alleged siphoning off of Rs 1.44 crore in new Rs 2,000 currency notes meant for the daily deposits in the city ATMs.
The cash belonging to SBI had been taken by the firm for replenishment in ATMs. Cops suspect this case is just the tip of the ice-berg and similar frauds have taken place on a large scale involving staff of several logistics companies in the aftermath of the demonetisation.
Logicash is a Mumbai-based company that has operations in several cities including Hyderabad. CCS officials said a complaint was filed with the police by K. Suresh Kumar, its manager. According to these officials, SBI had given a contract for ATM replenishment and management to Tata Communications Payment Solutions Limited, which in turn gave a sub-contract to Logicash.
Logicash recovers some cash
The Central Crime Station on Wednesday booked a case against Logicash, an ATM logistics company, for alleged siphoning off of Rs 1.44 crore meant for the daily deposits in the city ATMs.
Read: Hyderabad police suspect cash fillers’ role in scam
According to CCS officials, “The complainant stated that around six accused including cash custodians of the company and their family members have in the past few weeks siphoned off Rs 1.44 crore meant for ATM replenishment. Logicash has itself detected this during a physical audit by way of inspecting SBI ATMs in the city. The company has recovered a part of the cash from the accused.”
The cash that disappeared is suspected to be of new Rs 2,000 currency. CCS DCP Avinash Mohanty said an investigation is on into the complaint from Logicash. However, he refused to divulge more details about the case at present.
