2 arrested for siphoning off Rs 1.96 crore from TS Cooperative Apex Bank

Hyderabad: Officials of CCS, Hyderabad police, on Thursday arrested two persons for siphoning off Rs.1.96 crore from the TS Cooperative Apex Bank. The accused were identified as Yaseen Basha and Md. Rafi.

According to the police, the duo was contacted by an African national and a resident of Tolichowki. and lured them to work for him on a commission of 10 per cent. As they agreed, the African instructed them to open two bank accounts.

The African who has links with a Nigerian syndicate siphoned of Rs. 1.96 corer from the TS Cooperative Apex Bank and diverted the amount to two accounts opened by Yaseen and Rafi. The money was further transferred to 10 other bank accounts through IMPS transfers.

Apart from that, the duo also withdrew the remaining amount from the newly opened bank accounts, took their commission and handed over the balance to the African, stated Avinash Mohanty, Joint Commissioner of Police, CCS.

He advised the citizens not to let their bank accounts to be used for any such criminal activities. "If any individual is approached by any such persons they should immediately alert us."