Hyderabad SBI Branch ₹175 Crore Scam, Brach Manager, Gym Trainer Arrested

Hyderabad: A ₹175 crore fraud involving a State Bank of India (SBI) branch has been uncovered. SBI branch manager Madhu Babu Gali (49) and gym trainer Upadhya Sandeep Sharma (34) have been arrested in connection with the scam. They collaborated with fraudsters to open current accounts and divert funds for a commission. The Cybersecurity Bureau’s investigation revealed suspicious transactions totaling ₹175 crore in six SBI accounts over March and April 2024. The primary fraudster, based in Dubai, and his associates recruited poor individuals to open accounts used for cybercrimes and hawala operations. Key figures were arrested on August 24, and the public is advised to avoid opening accounts for others or engaging in suspicious activities. The investigation was led by Deputy SPs Hari Krishna and KVM Prasad, under SP Devender Singh’s supervision.Arrests: SBI branch manager Madhu Babu Gali (49) and gym trainer Upadhya Sandeep Sharma (34) have been arrested in connection with the scam. A case has been filed against them.

KEY POINTS

Fraud Scheme: The SBI branch manager in the city’s Shamsheer Gunj collaborated with fraudsters to open current accounts and divert funds, all for a commission.
Cybersecurity Investigation: The Cybersecurity Bureau’s data analysis team discovered numerous complaints about suspicious transactions in six SBI accounts over March and April 2024, totaling around ₹175 crore.
Main Fraudster: Operating from Dubai, the primary fraudster and his associates convinced poor individuals to open bank accounts, which were then used for cybercrimes and hawala operations.
Criminal Activities: The fraudsters used the accounts for large transactions and sent some money to Dubai via cryptocurrency. Key individuals involved in the scheme were arrested on August 24.
Public Alert: The police advise against opening bank accounts for others or engaging in suspicious transactions. Report any mule accounts to 1930 or cybercrime.gov.in.
Operation: The investigation was led by Deputy SPs Hari Krishna and KVM Prasad, under SP Devender Singh’s supervision, with various officers involved in the operation.

Read also on 06 August 2024 … CBI Arrests Hyderabad’s SBI Fraud Computer Operator After 20-Year Chase in TN

Hyderabad: The Central Bureau of Investigation (CBI) has arrested V. Chalapathi Rao, a former computer operator at the State Bank of India’s Chandulal Baradari branch in Hyderabad, after he had been on the run for 20 years. In 2002, Rao defrauded SBI of Rs. 50 lakh through fabricated quotations from electronic shops and fake salary certificates in the names of his family members and close associates. Missing since 2004, his wife misled investigators by lodging a missing complaint and filing a petition to declare him dead. Despite numerous efforts to change identities and locations, including stints in Tamil Nadu, Madhya Pradesh, Uttarakhand, Maharashtra, and Rajasthan, the CBI relentlessly pursued him. Rao was finally apprehended in Narsinganallur village, Tirunelveli, Tamil Nadu, where he had been hiding, and planning an escape to Sri Lanka.

Key Points:

1. Fraud Details:

Accused: V. Chalapathi Rao
Position: Computer operator at SBI Chandulal Baradari branch, Hyderabad
Year: 2002
Amount: Rs. 50 lakh
Method: Fabricated quotations from electronic shops and fake salary certificates in the names of family and close associates.

2. Evasion Tactics:

Disappearance: Missing since 2004
Misguidance: Wife lodged a missing complaint and filed a petition to declare him dead.
Legal Maneuvering: Obtained a stay from the High Court of Telangana to prevent property attachment.

3. Pursuit and Capture:

Aliases and Locations:

Salem, Tamil Nadu: Changed name to M. Vineet Kumar, remarried.

Bhopal, Madhya Pradesh: Worked as a loan recovery agent.

Rudrapur, Uttarakhand: Worked in a school.

Verul, Aurangabad, Maharashtra: Changed name to Swamy Vidhitatmanand Teertha and obtained Aadhaar card.

Bharatpur, Rajasthan: Stayed till July 2024, planned to escape to Sri Lanka.

Final Arrest: Narsinganallur village, Tirunelveli, Tamil Nadu on a Sunday.

4. Investigation Highlights:

Digital Footprints: Used email IDs and Aadhaar details.
CBI Coordination: Involved multiple states and constant tracking of changing identities and locations.
CBI Statement: Highlighted the relentless pursuit despite the accused’s numerous efforts to evade capture.

The 20-year-long chase ended with Chalapathi Rao’s arrest, demonstrating the CBI’s dedication and resourcefulness in tackling complex fraud cases.