Specific Information Service
HYDERABAD: 4 males have been arrested on Wednesday for duping ICICI Financial institution, Nacharam department to the tune of Rs 1.3 crore by creating wage accounts within the identify of a faux firm by a joint operation carried out by a Malkajgiri Particular Operations Crew and Nacharam police.
The mastermind Boda Srikanth, together with Banoth Sumanth, Bhukya Nagesh, Guddeti Gowtham and Yadla Bikshapathi conspired to create cast papers of a non-existent firm, ‘Residing Inside Design’ and availed wage accounts at ICICI Financial institution in Nacharam. To create financial institution accounts, Srikanth who hails from Warangal, approached his neighbouring villages and thandas and lured unemployed youth and housewives to present him their Aadhar playing cards on the pretext of offering loans at low charge pursuits. He then created the wage accounts on their names.
Rachakonda Commissioner of Police Mahesh Bhagwat stated: “Boda Srikanth enrolled 53 individuals as workers of the Residing Inside Designer agency, opened financial savings accounts in ICICI Financial institution at Habsiguda, Ramanthapur and Uppal branches for crediting their salaries by the financial institution. Boda Srikanth additional credited Rs 1 to Rs 2 Lakh salaries into the accounts of 34 bank card holders and raised their earnings vary to get a great credit score line for getting most buy or credit score restrict.”
Utilizing the services supplied by the ICICI Financial institution for bank card holders, Srikanth withdrew a complete quantity of Rs 1,33,65,000 on 34 bank cards and paid a partial quantity to the cardboard holders by convincing them that had gotten loans at a meagre charge of curiosity. He then evaded reimbursement.
The accused floated two different fictitious corporations: Yellow Lamp Inside Designers Pvt Ltd at Narapally and Brick and Rock Interiors Pvt Ltd at Manikonda and cheated the YES Financial institution, HDFC Financial institution and different banks equally.
Upon fixed reminders and notices despatched to 34 account holders as they didn’t pay any quantity they availed with bank cards, the banks realised that the agency doesn’t exist and approached the police.
Police discovered that 5 individuals have been concerned within the fraud. One among the many gang, Yadla Bhiksapati, died just lately.
Mastermind Srikanth liked motels, vehicles & Goa
Hyderabad: Mastermind Boda Srikanth who managed to hoodwink large banks corresponding to ICICI, Sure Financial institution and HDFC financial institution, led a lavish life with the cash he made by dishonest these banks. Whereas his associates got a fee, Srikanth saved massive chunks of the wealth to himself. He purchased a home and two luxurious vehicles, convincing his household that his enterprise was doing very well.
He bought a home in Medipally, a Ford Endeavor and Volkswagen automotive. He typically travelled to Goa and north India within the vehicles. Srikanth liked luxurious motels, meals and wine and picked up artefacts. Nonetheless, maybe realising that his lavish way of life led to weight acquire, Srikanth launched into a health spree and misplaced loads of weight. A lot in order that police had issue in figuring out if he was the identical Srikanth once they arrested him.
The mastermind Boda Srikanth, together with Banoth Sumanth, Bhukya Nagesh, Guddeti Gowtham and Yadla Bikshapathi conspired to create cast papers of a non-existent firm, ‘Residing Inside Design’ and availed wage accounts at ICICI Financial institution in Nacharam. To create financial institution accounts, Srikanth who hails from Warangal, approached his neighbouring villages and thandas and lured unemployed youth and housewives to present him their Aadhar playing cards on the pretext of offering loans at low charge pursuits. He then created the wage accounts on their names.
Rachakonda Commissioner of Police Mahesh Bhagwat stated: “Boda Srikanth enrolled 53 individuals as workers of the Residing Inside Designer agency, opened financial savings accounts in ICICI Financial institution at Habsiguda, Ramanthapur and Uppal branches for crediting their salaries by the financial institution. Boda Srikanth additional credited Rs 1 to Rs 2 Lakh salaries into the accounts of 34 bank card holders and raised their earnings vary to get a great credit score line for getting most buy or credit score restrict.”
Utilizing the services supplied by the ICICI Financial institution for bank card holders, Srikanth withdrew a complete quantity of Rs 1,33,65,000 on 34 bank cards and paid a partial quantity to the cardboard holders by convincing them that had gotten loans at a meagre charge of curiosity. He then evaded reimbursement.
The accused floated two different fictitious corporations: Yellow Lamp Inside Designers Pvt Ltd at Narapally and Brick and Rock Interiors Pvt Ltd at Manikonda and cheated the YES Financial institution, HDFC Financial institution and different banks equally.
Upon fixed reminders and notices despatched to 34 account holders as they didn’t pay any quantity they availed with bank cards, the banks realised that the agency doesn’t exist and approached the police.
Police discovered that 5 individuals have been concerned within the fraud. One among the many gang, Yadla Bhiksapati, died just lately.
Mastermind Srikanth liked motels, vehicles & Goa
Hyderabad: Mastermind Boda Srikanth who managed to hoodwink large banks corresponding to ICICI, Sure Financial institution and HDFC financial institution, led a lavish life with the cash he made by dishonest these banks. Whereas his associates got a fee, Srikanth saved massive chunks of the wealth to himself. He purchased a home and two luxurious vehicles, convincing his household that his enterprise was doing very well.
He bought a home in Medipally, a Ford Endeavor and Volkswagen automotive. He typically travelled to Goa and north India within the vehicles. Srikanth liked luxurious motels, meals and wine and picked up artefacts. Nonetheless, maybe realising that his lavish way of life led to weight acquire, Srikanth launched into a health spree and misplaced loads of weight. A lot in order that police had issue in figuring out if he was the identical Srikanth once they arrested him.