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Hyderabad, May 23′(PMI)Sravan Rao in Police Custody for Cheating Case; CCS Probes Financial Fraud Worth ₹6.58 Crore
Sravan Rao, accused in a high-profile cheating case, has been taken into police custody for interrogation by the Central Crime Station (CCS). The investigation pertains to a fraud complaint filed by Akhanda Enterprises, which claims to have been cheated out of ₹6.58 crore.
According to police sources, Rao allegedly duped the company by promising substantial profits from the purchase of raw iron from Ecore Industries. After receiving the funds from Akhanda Enterprises, he reportedly fled to the United States without delivering the promised goods.
Following the complaint, CCS officials registered a case and arrested Rao on May 13. He was initially remanded to judicial custody at Chanchalguda Jail. The Nampally Court later granted a one-day custody to the CCS for further questioning.
In addition to questioning Rao, investigators are examining related bank transactions and the financial dealings of his company. Notably, Sravan Rao is also under scrutiny in a separate phone tapping case, where he has been named as a key suspect.
Authorities have also implicated Rao’s wife, Swathi Rao, in the ongoing investigation. She has been listed as the fourth accused (A4) in the case (pressmediaofindia.com)
