Hyderabad: The Cyber Crime Police, Cyberabad arrested a four-member team for committing data theft from a Pharmaceutical Company and manufacturing the same products at Visakhapatnam fraudulently.
Mekala Krishna Reddy, Mekala Venkat Reddy, Gunturu Srikanth Reddy and Gunturu Srikanth Reddy are the arrested accused. The accused were employees of a Pharmaceutical manufacturing company that is into the production of bulk drugs and pharmaceutical products in Hyderabad and other cities. The technology being used by the company for producing the drugs is unique and is the intellectual property of the company.
According to the complainant, M.Koteshwara Rao, Senior Executive of a Pharmaceutical company, the four accused are ex-employees of the company,
While working for the company, the first accused, Srikanth Reddy resorted to malpractices resulting in loss and damage to the company. He was hence removed from the company in the year 2017. As per the complainant, ever since he left the company, Srikanth Reddy bored grudge against the company, its sister concerns and their management.
In order to damage the company, Srikanth Reddy hatched a plan and lured the other three accused with a job in his new company. With their help he managed to transfer some confidential data of some of the products manufactured by the complainant company. With this data the accused started manufacturing some of the products of the complainant company for their new company at Visakhapatnam and sold them to Mumbai and other cities.
During the investigation, it was revealed that the accused have committed theft of confidential process data of the complainant company.
The accused were arrested for committing data theft and thereby playing fraud on the Pharmaceutical Company of the complainant for wrongful gain and thus causing substantial financial loss to the complainant company.