Man arrested for cheating employer in Hyderabad

The Banjara Hills police registered case against a person who misappropriated money belonging to a business firm to the tune of Rs 4 crore.

According to A R Srinivas, DCP (west), the suspect Namburi Bala Srinivasa Rao (45), who previously worked as Chief Financial Officer of NSL Sugar Limited, had transferred funds to two companies to the tune of Rs 3.68 crore and duped the employer.

“Srinivasa Rao misused his official position in the office and transferred



Rs 65 lakh to a Hyderabad based company and obtained cash from the firm. Again, he transferred Rs 3.03 crore to a New Delhi based company and took cash saying NSL Sugar Limited needed it,” said the DCP.

After collecting the money, he had bought a BMW car and spent the money lavishly for his personal needs.

Basing on a complaint made by the management of NSL Sugar Limited, the police registered a case and arrested him.