Chaderghat cheating case: Former company official convicted, sentenced to jail

A local court convicted former 3F Industries Depot Manager M. Veera Venkata Krishna Rao in a Rs 1.23-crore cheating case and sentenced him to one year's simple imprisonment. The case involved alleged diversion of company stock during an ERP-to-SAP migration.

Hyderabad: A local court on Thursday convicted M Veera Venkata Krishna Rao, former Depot Manager of 3F Industries Ltd, to one year’s simple imprisonment in a Rs 1.23 crore cheating case reported in Chaderghat about ten years ago.

The court also imposed a fine of Rs 10,000 on him.

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Police said Krishna Rao had allegedly diverted company stock by generating unauthorised manual bills during the company’s ERP-to-SAP software migration in 2016, causing a loss of Rs 1.23 crore.

An audit detected a shortage of 12,910 units, and despite admitting liability through indemnity bonds, he allegedly failed to repay the amount and went absconding.