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Tuesday, May 24, 2016

CCS sleuths to investigate ATM cash siphoning case

Tukaramgate police have transferred the Rs 9.98 crore ATM cash siphoning fraud case to the Central Crime Station (CCS) police on Monday.

During the investigation conducted so far, police found out that one of the accused cash custodians of RCI Cash Management Services, Lokeshwar Reddy, who stole Rs 6.5 crore, had lost Rs 4 crore in the IPL cricket betting. Lokeshwar Reddy had placed bets worth Rs 4 crore on IPL matches through a known bookie, Prem of Mettuguda. Prem, who went absconding, has a criminal history. According to investigating officers, Prem was earlier arrested by Lalaguda police and Task Force sleuths in gambling and cricket betting cases. Police said Lokeshwar had got Rs 5 lakh profit when he initially placed bets on IPL matches but subsequently lost Rs 4 crore in the betting.

Cops also identified that with Rs 1 crore of the stolen amount he purchased various properties, including a plot worth Rs 20 lakh in Yadagirigutta, and two four-wheelers. He gave the remaining amount to the `management' of RCI.

Read For More News: visit Times Of India Online ePaper

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