Hyderabad, Sept. 15 -- In connection with bank fraud, a 39-year-old accused was arrested for misappropriating around seven crore rupees and cheating the American Express Banking Corporation.

The accused Mohan Kotilingam Uddanda worked as an assistant manager of Invesco (India) Private Limited for 10 years and benefitted from an agreement between American Express and his company wherein it was agreed to provide corporate cards to Invesco employees.

The card limit was set to Rs 5 lakh and was meant to be used for domestic, international, and official expenses alone. It was also clear that the employee had to repay any amount used. However, after his resignation in 2021, the accused did not return the American Express card. With intent to ...