Hyderabad: Former manager of UBI arrested for forgery

Hyderabad (Telangana) [India], January 22 (ANI): Hyderabad Police on Saturday arrested a former Manager of Union Bank of India for Rs 65 crore forgery.
According to the Joint Commissioner of Police Gajarao Bhupal, Sk Mastanvali and Nanduri Venkat Raman were arrested along with 20 other people for cheating Union Bank of India's Karwan and Santosh Nagar Branches and Canara Bank's Chanda Nagar Branches to the tune of Rs 65 crores pertaining to Telugu Akademi which had deposited as FDRs.
The fake and fabricated cover letters bearing the names of the Director and Accounts Officer at Telugu Akademi were used to create fake and fabricated financial certificates to be handed over to the account officer at the Telugu Akademi. Original FDS in banks which were in the possession of the accused was encashed and transferred amounts to various accounts, stated Gajarao Bhupal, JT Commissioner of Police, Detective Department, Hyderabad.
Earlier, a case had been registered against SK Mastanvali on 21 January 2021 after which he had been arrested. At the time of his arrest, he was working with Union Bank's Karwan branch where he had forged two fixed deposits worth one crore ninety-nine lakhs in favour of Telangana state warehouse corporation. In this case, the money was not withdrawn and remained intact. Mastanvali had been released on bail on January 19, 2022, in a previous case.
The arrest was made by K Manoj Kumar, Assistant Commissioner of Police, CCS, DD, Hyderabad, Under the supervision of N. Mahender, Addl. DCP EOW, CC, DD, Hyderabad read the statement. (ANI)