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Four get RI in fraud case:

G. Anupama Chakravarthy, Special Judge for CBI cases, convicted four persons in a fraud case.
They were Pothina Nageswara Rao alias Nagesh, Managing Partner of Pothina Tech Constructions, Aeturi Naga Kiran, partner of the firm, Jadumani Soren, Manager of UCO Bank, and Presingu Kiran, employee of the construction firm.
In March, 2010, the four entered into a criminal conspiracy to cheat UCO Bank, Dwaraka Nagar Branch. Accordingly, Nageswara Rao, Naga Kiran and Presingu Kiran opened a current account in the name of Pothina Tech Constructions and deposited a fictitious cheque for Rs.353,61,35,899 in the account. Soren colluded with them and fraudulently credited the cheque amount to the current account of the firm, without actually sending the cheque for realisation, by debiting the Inter Branch Suspense Account.
The fraud was noticed at the Zonal Office of UCO Bank in Hyderabad, the next day and the entry was reversed. An enquiry later revealed the fraud.

All the four were sentenced to a rigorous imprisonment of four years with fine.


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