Hyderabad: Cyberabad police arrested a film producer and bank manager and bank employee for doing financial fraud of Rs.40 crores.
The arrested persons K Ramaswamy, the bank manager, Sapai Rajesh, employee of the bank, and Shaik Basheed, a film producer cum realtor and resident of Jubilee Hills.
According to the reports “Ramaswamy and Rajesh made an unauthorized debit of Rs. 40 crores. The amount was diverted to an account provided by Basheed, who again diverted the money to different accounts”.
Basheed had also contested as Lok Sabha elections from Rajampet Constituency on a Congress party ticket earlier.
