Hyderabad: Two ATM cash custodians held for siphoning Rs 1.3 crore

Arested persons were identified as Gundelli Krishna, who worked as cash custodian with a cash management service company and Rapaka Rajasekhar Reddy, a former employee of the company

Hyderabad: Two persons who allegedly stole Rs 1.3 crore meant for remitting in ATM machines, were arrested by the Hyderabad Detective Department on Tuesday. The police recovered Rs 16.43 lakh from them.

The arrested persons were identified as Gundelli Krishna, who worked as cash custodian with a cash management service company and Rapaka Rajasekhar Reddy, a former employee of the company.

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“Rajasekhar Reddy was earlier arrested by the Hyderabad police for misappropriating cash. He instigated Krishna and the two stole the cash,” said Avinash Mohanty, Joint Commissioner of Police, Detective Department, adding that Krishna did not deposit the cash in the ATM machines assigned to him and instead deposited lesser amounts. The money was used by them for their personal needs, he added.

The fraud came to light after the cash management service company conducted an audit and found discrepancies. After an enquiry, the company approached the police who registered a case and arrested Krishna and Rajasekhar Reddy. They were produced before court and remanded.

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