Friday 16 November 2018
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business-standard - 7 days ago

Treasury staff among 2 held for Rs 1.4 cr fraud in AP: Police

Two persons, including a junior accountant of a government sub-treasury, were arrested here Friday for alleged misappropriation of more than Rs 1.4 crore government funds by fraudulent transfer into the accounts of a few pensioners, police said. A hunt had been launched for three more people allegedly involved in the fraud, they said. Police said they have recovered Rs 76.15 lakh, including Rs 64.54 lakh in cash, from the duo. The arrested have been identified as junior accountant Y Venkata Narasinga Rao of Seethammadhara sub-treasury office here and his friend Garikina Santhosh Kumar, both natives of the city. Deputy Commissioner of Police M Ravindranath Babu said Narasinga Rao had stolen user IDs and passwords of his colleagues at the sub-treasury office and fraudulently credited a total of Rs.50.66 lakh into the bank account of his mother Varalakshmi, a pensioner, in two transactions in May and August this year citing them as pension arrears. He had also transferred ..

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