Investigations into the Rs 94 crore scam at KMVSTDCL unveiled a complex scheme involving the creation of a fictitious junior accountant named Shivakumar, who was later identified as Sai Teja Devarapalli from Visakhapatnam. Teja was authorized for banking operations and transferred funds to a cooperative society, ultimately leading to his arrest. The elaborate deception included fake documents and multiple visits to the bank, as revealed by the SIT probe. The case sheds light on the need for stricter financial oversight and fraud prevention measures.Fake employee, real theft: Karnataka corp’s Rs 94 crore heist uncovered
Investigations into the Rs 94 crore scam at KMVSTDCL unveiled a complex scheme involving the creation of a fictitious junior accountant named Shivakumar, who was later identified as Sai Teja Devarapalli from Visakhapatnam. Teja was authorized for banking operations and transferred funds to a cooperative society, ultimately leading to his arrest. The elaborate deception included fake documents and multiple visits to the bank, as revealed by the SIT probe. The case sheds light on the need for stricter financial oversight and fraud prevention measures.
