Hyderabad: Central Bureau of Investigation officials on Friday arrested two men from Gujarat for illegally receiving money in the fixed deposit fraudulent transfer scam. A total of Rs 30 crore belonging to various government departments deposited by the official liquidator appointed by the High Court of Judicature were siphoned off.
CBI DIG V Chandrasekar in a press note stated that two men hailing from Rajkot in Gujarat have been arrested. On December 12, a case has been registered by the CBI for fraudulent transfer of fixed deposits worth Rs 8,89,69,258, from United Bank of India at Khammam.
The amount was transferred to a fake account of TNREDCL (Telangana New & Renewable Energy Development Corp Ltd), from which the money was transferred to various bank accounts located in Mumbai, Hyderabad, Chennai and Rajkot.
During investigation, the officials identified the role of Ghanshyam C Joshi and Hardik Praveen Bhai Joshi and their accomplices were identified. These persons based at Rajkot of Gujarat, received Rs 6.15 crore illegally and delivered Rs 5.3 crore to the king pin, Damodar Mani at Hyderabad and remaining amount was transferred to other accounts after taking their commission.
Ghanshyam and Hardik were also involved in similar cases where huge amounts belonging to AP Housing Finance Corporation, Rajiv Gandhi University in Bangalore were siphoned off, said CBI DIG V Chandrasekar adding they fraudulently transferred a total of Rs 30 crore in a period of one month. The DIG said the accused have been remanded to judicial custody on Friday and further investigation in the case is on.
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