Hyderabad: The Economic Offenses Wing (EOW) of Cyberabad arrested three persons including a Tollywood film producer for cheating people of over Rs.40 crore, the Cyberabad police said.
The accused have been identified as K. Ramasamy, bank manager at IndusInd Bank, Shamshabad Branch, S. Rajesh, a service delivery manager at the bank, and Shaik Basheed, a businessman and a Tollywood film producer.
A case was registered under Section 61(2), 316(2) 316 (5), 318 (3) r/w 3(5) of BNS.
On July 19, bank’s Manikandan Ramanathan lodged a complaint against his employees Ramasamy and Rajesh, along with a customer K. Uday Kumar Reddy stating that on July 12, an unauthorised debit of `40 crore was made from the account of Aditya Birla Housing Finance Limited at the bank's Nariman Point Mumbai branch. The transactions were allegedly executed by their bank employees in collusion with others who are intentionally conspiring to misappropriate funds.
Ramasamy and Rajesh facilitated unauthorised debit transactions from the account of Aditya Birla Housing Finance Limited. These transactions were carried out without proper authorization or instructions from the account holder, and the funds were subsequently transferred to various other accounts.
Following the unauthorised transfers, Basheed orchestrated the withdrawal and further distribution of the misappropriated funds. Among the disbursements, Basheed facilitated the purchase of two high-end cars, one of which was promised to Ramasamy as a reward for his cooperation in the fraudulent scheme.
The two of the accused were arrested on July 24 one was arrested on July 29 in Delhi. All of them were sent to judicial remand. Earlier, Basheed was involved in more than 10 cheating cases in CCS Hyderabad, Jubilee Hills, Panjagutta, Banjara Hills, Bowenpally police stations of Hyderabad Commissionerate and Narsingh of Cyberabad Commissionerate, Mominpet of Vikarabad district. Basheed had also contested as an MP in Rajampet constituency on a Congress ticket in Andhra Pradesh.
