HYDERABAD: The Telangana Cyber Security Bureau (TGCSB) in Hyderabad on Wednesday arrested two individuals, including an SBI branch manager, in connection with a massive Rs 175 crore fraud.
The accused are Madhu Babu Gali, former manager at the Shamsheergunj SBI branch, and Upadhya Sandeep Sharma, a 34-year-old gym trainer. TGCSB Director Shika Goel said that Madhu (49) allegedly facilitated the scam by opening current accounts and diverting money, all for a commission. Police said Sharma was also involved in the fraud.
On Monday, the TGCSB uncovered the Rs 175 crore fraud after investigating 600 complaints against six SBI accounts in Shamsheergunj. Police arrested two accused, Mohammed Shoeb Tauqeer and Mahmood Bin Ahmed Bawazir, while the kingpin in Dubai is on the run. The gang was luring poor people with the promise of commissions upon opening bank accounts, which would then be used for cybercrimes and hawala operations.
A case has been registered under Sections 66D of the IT Act, 318(4), 319(2), and 338 of the BNS Act at the Hyderabad Cyber Crime Police Station.