Hyderabad: The Telangana CID on Wednesday, May 14, arrested a former employee of the Bharatiya Sanchaar Nigam Limited (BSNL) in connection with Rs 20 crore fraud.
The accused was identified as 63-year-old B Anantha Rao, who previously worked as a superintendent in BSNL and was a resident of Nalgonda, along with others were members of the BSNL Employees Cooperative Credit Society Limited, Nalgonda.
Background of the case
The case pertains to criminal breach of trust and misappropriation of huge deposits made by BSNL employees in the `BSNL Employees Cooperative Credit Society’, Nalgonda.
The case dates back to 2022 in Nalgonda Town. The accused collected huge amounts from the employees of BSNL as well as elected Members/Directors of BSNL Employees Cooperative Credit Society Ltd., Nalgonda, and issued fake bonds of “fixed deposits”.
He misappropriated the amounts to the tune of around 20 Crores without depositing them in the bank accounts of the society.
Based on a complaint filed by the Deputy Registrar & Audit Officer, the CID registered a case against Rao and Ch. Bixsham, the secretary of the society.
They together misappropriated the amount of the members by issuing fake bonds without depositing the same in the bank accounts of the society. The matter came to light on the audit conducted by the government on the complaints filed by the members.
CID booked the president under section 4O6, 4O9, 477-A & 420 IPC, read with l2O-B IPC, was registered at CID, PS, Hyderabad.
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