Five stolen cheques recovered from the four arrested persons

Police on Tuesday caught four persons who allegedly tried to encash a stolen cheque by presenting it in ICICI bank's Padmaraonagar branch.

Five stolen cheques were recovered from the arrested, Santosh Mahender, 37, Rayees Anis Shaik, 30, both from Maharashtra, Afzal Ahmed Khan, 38 and Shaik Ithesham Ali, 34, hailing from Hyderabad. The accused obtained the cheques through their acquaintance, Prashant, suspected to be the kingpin in the case.

Mahender and Shaik came to the city and checked into a lodge after securing the cheques. With the help of their associates Khan and Ali, they presented one cheque for Rs. 91 lakh in ICICI bank's Padmaraonagar branch.

The bank employees grew suspicious and alerted the security personnel to detain them. Sensing danger, the accused fled the place. On learning about the incident, the Commissioner's Task Force (North) officials tracked the accused and caught them.

Spill the beans

During interrogation, the gang told the police that they had earlier presented a cheque for Rs. 1.40 crore in IDBI bank's Basheerbagh for encashment but could not withdraw the money due to some technicalities. The accused maintained that some bank employees based in Mumbai give them stolen cheque leaves of private companies.

“They would either steal one leaf from the cheque book or from the courier agency covers and give it to us,” they revealed to the police.

Since the bank employee stealing the cheques would also know who the authorised signatories of the company concerned were, they would show the specimen signatures to the gang members and even prepare fake letterheads of the company.

Using this, the accused would open bank accounts in other States and present the cheques there. “In some cases, they managed to encash the cheques with the collusion of bank staff,” the Task Force Inspector, L. Raja Venkat Reddy, said.

  • Accused present one cheque for Rs. 91 lakh in ICICI bank's Padmaraonagar branch
  • Bank employees grow suspicious and alert the security personnel to detain them