The Central Crime Station sleuths on Thursday arrested a 32-year-old person, Kuchimanchi Srinivas of Begumpet, who was wanted in a bank fraud case.
The accused had secured three credit sweep card from American Express bank in 2008 using fictitious documents in the name of Indian Bank and withdrew Rs. 71,89,202 in 2008 and 2009, the CCS Inspector, G. Venkateshwarlu, said.
While one card was in his name, the other two cards were in the names of his wife, Vandana, and father-in-law, Giri Prasad. An agent, A.L. Narasimha Rao, helped him prepare the fake surety documents in the name of Indian Bank.
Using his card and that of his wife, Srinivas allegedly withdrew the money for paying different bills and purchasing goods. As he did not pay back the money, the bank authorities approached the Indian Bank only to realise that the surety documents were fake.
They lodged a complaint with the CCS in March 2010. Srinivas' wife, father-in-law and the agent are still at large.