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Wednesday, April 14, 2021

Hyderabad: Police arrest 2 for siphoning off Rs 1.30 crore from ICICI Bank ATMs

One of the accused worked as a custodian at Secure Value India Limited and was tasked with replenishing cash at ICICI Bank’s ATMs.

By: Express Web Desk | Hyderabad |
Updated: March 9, 2021 9:04:50 pm
ICICI Bank ATMThe two siphoned off money from nearly 20 ICICI Bank ATMs. (Representational)

Hyderabad police arrested an ATM custodian and his former colleague on Tuesday on charges of siphoning off Rs 1.3 crore from 20 ATMs of ICICI Bank.

According to the police, the prime accused, Gundelli Krishna, who works as custodian at Secure Value India Limited and is tasked with replenishing cash at ICICI Bank’s ATMs, took the amount fraudulently after being instigated by Rapaka Rajashekar Reddy.

Reddy was previously arrested in a similar case on charges of siphoning off funds from ATMs belonging to the same cash management company, a statement from Avinash Mohanty, Joint Commissioner of Police, Central Crime Station, Hyderabad, read.

It added that the two accused colluded and fraudulently siphoned off the money for their personal use. Following a complaint from M Sinivas Rao, general manager of Secure Value India Limited, the CCS registered a case and probed the matter. The accused are charged under cheating, criminal breach of trust, dishonestly receiving stolen property, and abetment.

The police also seized Rs 16.43 lakh in cash from their possession and the arrested persons will be produced before Court for judicial remand, the statement added.

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