8 arrested in Axis Bank scam, Huge Cache Seized
Scam involves a major amount of 16.40 Crores.State Agricultural Marketing Board officials accused of fraud.Special investigating teams formed Police to seek more arrests.
Raipur: Raipur Polices’ quick action resulted in sending 8 culprits behind the bars in the alleged Rs16.40 Crores Axis Bank scam. Accused Satish Verma and Sai Pravin Reddy were nabbed from Hyderabad while Srinivas Rao was arrested in Bengaluru.
The other 5 accused were also arrested in the said case; 2.34 Crores in cash along with 1.18 Crores deposited in separate bank accounts have been put on hold the Police.
The scam came into light after bank cluster head B Anand filed a complainet at Mujgahan Police Station accusing State Agricultural Marketing Board officials Satish Verma and Chandrabhan Singh of using a wrongfully issued cheque book to transfer the involved amount in different bank accounts.
The accused officials along with other culprits have been booked under Section 420, 467, 468, 471, 34, 120B, 409, 419. Reportedly, police has taken Srinivas into the custody for detailed questioning about his account in which 4.48 Crores were transferred. Senior Supritendent of Police, Prashant Aggarwal, in a press interaction stated, that more arrests are expected in this case for which different team have been formed. The investigating teams have been deployed in Mumbai, Gujarat along with other states where more arrests could be made.
