The branch manager of SBI, along with his associates, has been arrested regarding ₹175 crore fraud involving the State Bank of India in Hyderabad. Some of the key accused involved in conniving with the branch manager, Madhu Babu Gali, are involved in the opening of the current accounts at the Shamsheer Gunj branch with the help of fake ID proofs and helping the fraudsters in withdrawal of the money and also the rigging of the money through providing information to the fraudsters by paying some commission for doing so, accused informed by Cybersecurity Bureau Headquarters in Hyderabad.
Two suspects, Gali, a 49-year-old resident of Lucknow, and a gym trainer named Upadhya Sandeep Sharma, a 34-year-old from Bhagwara Anandpur in Tehri Garhwal, were intercepted as part of the probe. The duo has been taken to court. Several charges have been brought against them.
Working on the complaint entry registered in the National Cybercrime Reporting Portal, the data analysis team of the Cybersecurity Bureau found several complaints against six bank accounts at the Shamsheer Gunj branch of the said bank.
Furder’s investigation revealed that significant trading occurred in the course of just two months – March and April 2024 implying the accounts engaged in rampant cyber fraud. Figure 4 depicts around 600 complaints related to these accounts.
The main suspect, located in Dubai, and his crew of five accomplices duped weak-minded people into opening current and savings accounts to use in cyber frauds and hawala business, provided they collected commissions for the services.
The two other suspects, Mohammed Shoeb Tauqeer and Mahmood Bin Ahmed Bawazir, were caught on August 24. Shoeb was helpful in account openings and documents for cheques needed signatures that were given to an associate to hold. According to the information received, some of the funds were transferred through the use of cryptocurrency to Dubai.
The main fraudster, along with Shoeb and his associates, coerced poor people into opening six current accounts in February 2024 by offering attractive commissions. The accounts mentioned above show an approximately ₹ 175 crore grossing turnover between March and April.
The government again advises the general public against managing others’ bank accounts or engaging in any shady business. For those who have already opened such accounts, it is recommended that they file a complaint at 1930 or cybercrime. gov. in.
This operation was headed by officers, including Deputy SPs Hari Krishna, KVMPrasad, and SP Devender Singh, with the efforts of Inspector D Srinu, Mahender, and several constables.
