Phone-tapping accused Shravan Rao arrested in Rs 6.58 cr fraud
Hyderabad: The Hyderabad Central Crime Station (CCS) arrested A Shravan Kumar Rao, the prime accused in the phone-tapping case. He faces charges in relation to a serious financial fraud as his group cheated the company of more than Rs 6.58 crore.
He was arrested following a complaint filed by Akarsh Krishna, director, Akhand Infratech India Private Ltd, who alleged that Shravan and his group cheated the company.
The complaint stated that from November 2022 to December 2023, Akhand Infratech remitted money to the bank account of Acore Industries based on a proposed iron ore trading agreement. Yet the transactions failed to take place.All correspondence supposedly went through Shravan's office with no direct Acore Industries' invoices.
The CCS filed a case on April 25 under sections 316(5), 318(4) and 3(5) of the Bharatiya Nyaya Sanhita. The CCS police, who questioned Shravan arrested and sent him to remand.
Shravan's wife A Swathy Rao, business partner KB Vedamurthy and director of Acore Industries, Uma Maheshwar Reddy, have been cited as accused in the case.
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