Criminal breach of trust by banker busted in Telangana, three held

Criminal breach of trust by banker busted in Telangana, three heldThe EOW PS of Cyberabad has busted a criminal breach of trust by banker K Ramasamy and S. Rajesh, where the accused used unauthorised debit transaction amounting to Rs 40 crore with the help of A3 Shaik Basheed and others without any cheque and RTGS form.

A case was registered in Cr.No.27/2024 U/Sec 61(2), 316(2) 316 (5), 318 (3) r/w 3(5) BNS of PS EOW, Cyberabad and the accused Kanugula Rama Swamy, Bank Manager at IndusInd Bank, Shamshabad Branch, residing at Abhyudaya Nagar Colony, Bandlaguda Jagir, Ranga Reddy District; Sapai Rajesh, Bank Employee at Indusind bank, Shamshabad Branch of Shamsabad, Ranga Reddy; Shaik Basheed, Business, Jubilee Hills, Hyderabad and the complainant is Manikandan Ramanathan, Zonal Head Operations, IndusInd Bank Limited, Hyderabad.

On July 19, 2024, Manikandan Ramanathan lodged a complaint against their bank employees K. Ramasamy and S. Rajesh, along with a customer K Uday Kumar Reddy stated that on July 12, 2024, an unauthorized debit of ₹ 40 crore was made from the account of Aditya Birla Housing Finance Limited at the bankers Nariman Point Mumbai branch. The transactions were allegedly executed by their bank employees in collusion with others, who are with an intentionally conspiring to misappropriate funds, resulting in ₹ 40 crore losses for the bank and lodged complaint with request to take legal action against them as per law.

Following the unauthorized transfers, A3 Shaik Basheed orchestrated the withdrawal and further distribution of the misappropriated funds. Among the disbursements, Shaik Basheed facilitated the purchase of two Toyota Fortuner cars, one of which was promised to A1 K Ramasamy as a reward for his cooperation in the fraudulent scheme. The accused A1 and A2 were arrested on July 24, 2024 in Hyderabad, while A3 was arrested on April 29, 2024 in Delhi. All of them were sent to judicial remand.

Earlier, A3 Shaik Basheed was involved more then 10 cheating cases in CCS Hyderabad, Jubilee Hills, Panjagutta, Banjara Hills, Bowenapally police stations of Hyderabad Commissionerate and Narsingh PS of Cyberabad Commissionerate, Mominpet PS of Vikarabad District. Shaik Basheed is also a film producer and had contested as MP in Rajampet constituency from Congress party of Andhra Pradesh State.

Public advisory: To protect yourself from banking fraud, always keep your account information confidential and never share it with anyone. Regularly monitor your account activity for any unauthorised transactions and report suspicious activity to your bank immediately.

The case is being investigated by S Murali Krishna, Asst Commissioner of Police, Economic Offences Wing Police Station, Cyberabad under the supervision of K Prasad, Dy Commissioner of Police, EOW, Cyberabad.