The Crime Investigation Department in Telangana (CID) arrested five more individuals in connection with the case of multiple crorem fraud concerning the Sathupally Bank IDBi Bank in the Khammam district, moving the total number of accused to seven.
The scam, which followed up to approximately 2.86 GBP, revolves around fraudulent loans released under the guise of agricultural and micro -effect schemes supported by counterfeit land records, said Shikha Goel.
“Bobbili Vengal Rao, Bobbilili Jaganatham, Yelike Haribabu, Mudagandla RajashEkhar alias Raju and Pinneboyana Konda Babu played a key role in the production of false documents and seals used for illegally secured banks.
The case came to light after the internal audit called the suspicious transactions between the former IDBi Nallagopul Ramesh and the former business correspondent Chettipog Suresh.
According to the complaint filed by PH Hashim, Deputy CEO and Regional Head of IDBI, the duo with others on the sanction of 2.61 Crore in Kisan’s credit card loans to 279 recipients and other lakhs in micro -rare loans to 26 individuals 2015.
Subsequent verification authorities confirmed that the deposits of Pattadar submitted as evidence of land ownership were created.
The case was registered by CID within several sections, including cheating, counterfeiting and criminal conspiracy. Both Ramesh and Suresh were previously arrested and successful.
Published – May 10, 2025 17:32
