CBI books IOB officials for Rs 90 crore fraud in Andhra

Visakhapatnam :The officials of Central Bureau of Investigation (CBI), Visakhapatnam has registered a case against officials of Indian Overseas Bank (IOB) and some private persons for committing Rs 90 crore fraud. The CBI has registered cases against Green Valley Ministries Welfare Association, Visakhapatnam, Bhakthinidhi, Vijayawada, Bellamkonda Murali Krishna Sharma, Suryarao Peta, Vijayawada, Heli Veepuri, Regional Resource Manager, Indian Overseas Bank, Regional Office, Vijayawada, Kandrathi Sireesha, Assistant Manager, Indian Overseas Bank, Mangalagiri, Guntur, Vuyyala Suresh, Assistant Manager, Indian Overseas Bank, Mangalagiri, Guntur and Mothukuri Adinarayana, Clerk, Indian Overseas Bank, Mangalagiri, Guntur.

The CBI officials said that Heli Veepuri, while working as Regional Resource Manager, Indian Overseas Bank, Regional Office, Vijayawada, opened a current account during the month of September 2019, in the name of Green Valley Ministries Welfare Association with IOB, Mellampudi Branch, Guntur. After opening the said account, he obtained a cheque from Green Valley Ministries Welfare Association for Rs 90 crores, drawn on an account maintained in Punjab National Bank, MVP Colony, Visakhapatnam and deposited the same on October 24, 2019 in IOB, Mangalagiri Branch, where he worked earlier as Branch Manager.

Thereafter, without waiting for clearing of the said cheque, he transferred Rs. 89 crores to the account of Bhakthanidhi maintained with HDFC, Vuyyuru Branch and Rs one crore to Savings Bank account of SBellamkonda Murali Krishna Sharma maintained with IOB, Ramavarappadu Branch, without any vouchers. On October 24, 2019 evening itself, Bellamkonda Murali Krishna Sharma, Proprietor of Bhakthinidi approached IOB, Ramavarappadu Branch for withdrawal of amount. However, the amount was not disbursed to him. He also approached HDFC Bank, Vuyyuru Branch for transfer of Rs10 lakhs to his SB Account and the same was transferred

It is further alleged that Green Valley Ministries Welfare Association, in conspiracy with Bank Official, issued the above cheque without having sufficient balance in their Account. For processing the above transactions in IOB, Mangalagiri Branch, Heli Veepuri used the Log In IDs/Passwords of Kandrathi Sireesha (Assistant Manager), Vuyyala Suresh (Assistant Manager) and Mothukuri Adinarayana (Clerk) of IOB, Mangalagiri Branch, in conspiracy with them.

Thus, the bank officials conspired with private people to cause a wrongful loss to the tune of Rs.90 Crores to Indian Overseas Bank and corresponding wrongful gain to themselves.

After registration of the case, a search was conducted at the office and residential premises of those accused at various places in Visakhapatnam, Krishna, Guntur and Prakasam Districts. During the course of searches, several incriminating documents were seized.