An accounts head of RM Converters Private Limited in Kothur allegedly diverted nearly Rs 7.90 crore from the company’s bank accounts into his personal account through fraudulent transactions. Police are investigating the fund flow and possible involvement of others in the fraud
Published Date – 22 May 2026, 04:26 PM
Hyderabad: In a major financial fraud, an employee of RM Converters Private Limited located at Theegapur in Kothur allegedly diverted nearly Rs 7.90 crore belonging to the company into his personal bank account.
According to Shadnagar DCP Sirisha Raghavendra, the company management lodged a complaint alleging large-scale misappropriation of funds within the firm.
Based on the complaint, the Kothur police took up the investigation and found that the suspect, identified as Laxman, who was working as the accounts head of the company, had diverted the funds.
During the investigation, the police found that the suspect had allegedly diverted nearly Rs 7.90 crore at regular intervals from the company’s bank accounts into his personal bank account through fraudulent transactions.
Police said further investigation is on to trace the flow of funds and examine whether others were involved in the financial fraud.
