News courtesy-Times of India
HYDERABAD: Central Crime Station (CCS) police arrested two persons, including an assistant manager of ICICI Bank, in the Rs 5.4 crore Andhra Bank cheque fraud case and recovered Rs 1.1 crore from them.
G Prasad, assistant manager of ICICI Bank I Town branch, Vijayawada, and V Mohan Prakash, a businessman from Khammam, were arrested by police on Thursday.
In the first week of June, Neti Sita Ramaraju, chief manager of Andhra Bank, Abids Road branch, lodged a complaint with the CCS police alleging that unidentified persons presented a cheque (Number 760585, dated 09-06-2009) issued by Andhra Pradesh State Finance Corporation (APSFC) for Rs 5.4 crore payable to M/s Vishal Computer Peripherals & S Solutions at ICICI Bank's I Town branch in Vijayawada.
The cheque was passed at Cheque Processing Centre of Andhra Bank, Hyderabad and subsequently an amount of Rs 5.4 crore was credited to the ICICI Bank's current account: 030305001628 in the name of M/s Vishal Computer Peripherals & S Solutions.
The account was of one GVVS Vara Prasad of Malakpet. On June 16, three persons withdrew Rs 5.1 crore through a self-cheque from ICICI Bank in Vijayawada.
During the course of investigation, the CCS police arrested Vara Prasad and remanded him in judicial custody on June 30.
Following his confessional statement, on July 1, police arrested Katneni Sarath Babu, 55, deputy manager, Andhra Bank, Cheque Processing Centre, in Saifabad, from his residence at Vamsi Enclave in Motinagar, and recovered Rs 15 lakh from him.
According to CCS inspector S Sharat Kumar, ICICI assistant manager G Prasad was arrested on July 15 after his role in the scam came to light. The ICICI assistant manager had taken Rs one crore to help his associates in hassle-free withdrawal of cash and Mohan Prakash was one of the persons who went to withdraw the money. "Even though the real account holder, Vara Prasad was not there in person to take the cash, the assistant manager helped the others withdraw the money with,'' the inspector said.
Police recovered Rs one core from Prasad and Rs one lakh from Mohan.
Three other accused are still absconding and efforts are on to apprehend them.
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