Two employees held for siphoning off over Rs 1 crore from Hyderabad police welfare fund
Hyderabad: A major financial scam has surfaced in the Hyderabad Police Department, where more than Rs 1 crore was allegedly misappropriated from the police welfare fund.
The Central Crime Station (CCS) police have arrested two employees, identified as Mohsin and Vinay, in connection with the case.
The alleged fraud took place at the City Armed Reserve (CAR) Headquarters in Petlaburj, where substantial funds are maintained for the welfare of police personnel and other departmental requirements.
According to information available, the suspects allegedly forged the signatures of senior IPS officers on cheques to withdraw money from the welfare fund account. Instead of touching the principal deposits, they reportedly diverted the interest earned on the deposits into other bank accounts.
The alleged misappropriation continued for an extended period, with the suspects allegedly exploiting the fact that the principal amount in the account remained largely unchanged.
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