The CBI has arrested Franklin alias Vijay Kumar a key accused in Rs 88.3 crores worth FDs siphoning fraud cases currently being probed by CBI and the CID of Andhra Pradesh and has made another key arrest in the multi-crores Fixed Deposit (FD) fraud.
According to CBI source the Franklin is accused in four FDs siphoning fraud cases pertaining to SBH's Singapore Township, Nallakunta, Malkajgiri and United Bank of India's Khammam branch and the CBI has already arrested three persons related to fraud cases including, the kingpin V K Sai Kumar, his associates Damodaran Mani and former SBH employee KV Ramana Rao.
The CBI Official has told that Franklin has played an important role in preparing the forged FD documents and was furnished with the concerned government bodies like Official Liquidator, AP State Housing Corporation Ltd (APSHCL) while the offenders used the genuine FD receipts to en cash the deposit amount.
The accused arrested by the CBI are believed to be the conspirators in the CID cases but surprisingly, SBH officials has refunded the lost amount to the accounts of aggrieved government bodies, where as they are yet to extend the same gesture in the cases being probed by the CBI.
