Hyderabad: The Hyderabad Central Crime Station (CCS) has arrested A Shravan Kumar Rao, the main suspect in a major phone-tapping and financial fraud case. He is accused of cheating a private company out of more than ₹6.58 crore.
The arrest came after Akarsh Krishna, director of Akhand Infratech India Private Ltd, filed a complaint against Shravan and his associates. According to the complaint, the fraud took place between November 2022 and December 2023.
During this period, Akhand Infratech transferred large sums of money to Acore Industries. The payments were made under a deal involving iron ore trading. However, no actual trade happened. All communication about the deal came through Shravan’s office, and there were no official invoices from Acore Industries.
On April 25, CCS registered a case under Sections 316(5), 318(4), and 3(5) of the Bharatiya Nyaya Sanhita. After questioning, police arrested Shravan and placed him in judicial custody.
Alongside Shravan, others named in the case include his wife A Swathy Rao, his business associate KB Vedamurthy, and Uma Maheshwar Reddy, director of Acore Industries. All are under investigation for their roles in the scam.
