In Rs 175 Crore Hyderabad SBI Branch Fraud, “Mule Accounts” Used To Send Money [Video]

Hyderabad:

The manager of a State Bank of India (SBI) branch in Hyderabad and his associates have been arrested in a fraud case worth Rs 175 crore.

The SBI branch manager in the city’s Shamsheer Gunj area colluded with fraudsters, facilitating the opening of current accounts, aiding in withdrawal of funds, and orchestrating diversion of money, all in exchange for commissions, officers of the Cybersecurity Bureau Headquarters in Hyderabad told NDTV.

The branch manager Madhu Babu Gali, 49, and a gym trainer, Upadhya Sandeep Sharma, 34, have been arrested in the Rs 175 crore scam. A case has been filed against them.

The Cybersecurity Bureau’s data analysis team had detected numerous complaints reported on the NCRP portal against six bank accounts in SBI, Shamsheer Gunj. The team focused on this issue, and on verification, it was found that large sums of money were transacted through these accounts within a short period …