HYDERABAD: A former chief manager of Union Bank of India (UBI) was on Saturday arrested by the Central Crime Station (CCS) sleuths for allegedly issuing fake fixed deposit (FD) receipts to Telangana State Warehousing Corporation (TSWC).
The chief manager was earlier arrested for allegedly being involved in a gang, which duped government-run Telugu Akademi by illegally liquidating its FDs.
CCS police said that Shaik Mastanvali Saheb, former chief manager of Union Bank of India, allegedly forged two fixed deposits (dated January 6 & 7, 2021) for 1.99 crore in favour of Telangana State Warehousing Corporation while he was working at Karwan Branch. After creating FDs, he allegedly gave forged receipts to TSWC.
Recently, TSWC officials went to the bank after the one-year tenure of FDs was over. The bank officials, during verification, found that the receipts were fake. However, the bank officials found that the deposited amounts were intact. The original FD receipt was allegedly in possession of one N Venkat Raman.
