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More officials under scanner
The Rs 6-crore fraud case in the Hyderabad Metropolitan Development Authority (HMDA) is taking a serious turn. Ten officials of Indian Overseas Bank (IOB), two of them retired, were already arrested a week ago.
​Hyderabad: The Rs 6-crore fraud case in the Hyderabad Metropolitan Development Authority (HMDA) is taking a serious turn. Ten officials of Indian Overseas Bank (IOB), two of them retired, were already arrested a week ago.
The officials, posted in different branches of the public sector bank in the city, were accused of defrauding the HMDA through fraudulent withdrawal of over Rs 6 crore.
The bank officials, according to police, had fraudulently passed, cleared or altered cheques of HMDA in connivance with the prime accused Lunavath Shankar Naik and other accused Y Vijay Mohan Krishna and Raju Ahmed.
All three were arrested in March, it said. According to the police, the accused defrauded HMDA during 2008-2016 by forging cheques issued in favour of a private security agency, Sai Security Services.
The HMDA authorities had issued 55 cheques worth Rs 76,67,735, in the name of Sai Security for their services to the HMDA.
But Naik, in connivance with Mohan Krishna, an audit officer in HMDA, and Ahmed, opened fake account in the name of Sai Security Services. They altered some of the cheques issued by HMDA and swindled an amount of Rs 6.03 crore in connivance with the arrested IOB employees (both serving and retired), the release added.
The HMDA officials at first lodged a complaint with Osmania University police. Later the case was transferred to the Central Crime Station for investigation. Against this backdrop, sources, CCS Hyderabad arrested 10 people, including bank staff of Indian Overseas Bank (IOB), Managing Director of Sai security.
A top cop in CCS told The Hans India that more HMDA and bank officials are under the scanner.
It may be recalled that the CCS detectives had arrested 13 Assistant ExecutiveEngineers (AEEs) of the Greater Hyderabad Municipal Corporation for allegedly clearing the bills without verification.
