Hyderabad: CID arrests suspect in cheating case after 11 years

Following a tip-off, a special team went to Velachery in Chennai and nabbed the suspect on February 18

Hyderabad: The Crime Investigation Department (CID) executed a Non-Bailable Warrant (NBW) that had been pending for the past 11 years against one Sambasiva Iyer Swaminathan, involved in a case of criminal breach of trust, cheating, and fabrication of documents and nabbed him from Chennai in Tamil Nadu.

Swaminathan, was suspect number 55, in the case registered in 2013, which case revolves around Anil Beni Prasad Agrawal, the prime suspect and others who allegedly swindled funds amounting to Rs 29 crore from Ravi Kumar Distilleries Ltd. A case was first booked by Nacharam police and subsequently transferred to the CID.

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CID officials said Swaminathan posing as the Book Running Lead Manager (BLRM) for the company’s Initial Public Offering (IPO), fraudulently collected a substantial amount from the company.

After completing the investigation, a chargesheet was filed, and Swaminathan went absconding ever since. Subsequently, a NBW was issued against him by a local court in LB Nagar.

Following a tip-off, a special team went to Velachery in Chennai and nabbed him on February 18. He was brought to the city and produced before the court and remanded in judicial custody.

Additional DGP CID Shikha Goel appreciated the Special Execution Team.