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8 crore of HC money withdrawn fraudulently from PSU bank


Fixed deposits of Rs eight crore, belonging to the Hyderabad High Court, were found to have been withdrawn fraudulently from a state-run bank in Malkajgiri area recently, the police said on Tuesday. An amount of Rs nine crore, pertaining to the High Court Liquidated Funds, was deposited in the bank in the form of FDs in October this year.

But fake deposit bonds were issued to the depositor and the original bonds were found to have been used subsequently to withdraw the FDs prematurely, said the assistant commissioner of police (Malkajgiri division) M Ravichandan Reddy.

“The money was transferred to at least 13 accounts. We are probing possible role of some middlemen and bank officials in the fraud. We have picked up some people for questioning,” the ACP said.

The Official Liquidator of Hyderabad High Court has lodged a complaint with Malkajgiri police and a case of cheating, forgery and other relevant offences has been registered.

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