Hyderabad Bank Fraud Case: ED Secures Conviction in Money Laundering Case; Accused L Srinivas Goud Sentenced to 5 Years’ Rigorous Imprisonment

New Delhi, November 25: The Enforcement Directorate (ED) has secured a conviction in a money-laundering case linked to a bank fraud in Hyderabad, with a special court sentencing the accused, L. Srinivas Goud, to five years of rigorous imprisonment.

The Metropolitan Sessions Judge (MSJ) Court, Nampally, on November 24, 2025, found Goud guilty under Sections 3 and 4 of the Prevention of Money Laundering Act (PMLA), 2002. The court also imposed a fine of Rs 25,000 each on him and his firm, Mallika Inn Bar and Restaurant. SBI Bank Fraud Case: CBI Raids Anil Ambani’s Residence, Reliance Communication Premises in INR 2,929 Crore Loan Fraud Case.

The conviction follows an ED investigation that revealed Goud had fraudulently obtained a loan from Federal Bank by forging documents and using an impostor to impersonate his mother. The loan, taken under the guise of a housing loan and for renovation of his restaurant and bar, was allegedly diverted for other purposes, generating proceeds of crime and causing a loss of Rs 44.80 lakh to the bank.

The ED Hyderabad Zonal Office had filed a prosecution complaint after completing the investigation, highlighting the fabrication of title deeds and forgery of signatures used to secure the loan. During the trial, multiple witnesses were examined, and the agency concluded its arguments. However, the accused repeatedly absconded, prompting the court to issue non-bailable warrants on several occasions. ED Hands over Four Attached Flats Linked to Fugitive Mehul Choksi Case for Monetisation; Assets Worth Rs 310 Crore Transferred So Far.

After sustained efforts, ED officials traced Goud to a new residence using electronic and human intelligence. Surveillance over the course of a week confirmed his presence, leading to his arrest in the early hours of October 27, 2025. He was produced before the court and remanded to judicial custody, where he remained after successive bail pleas were rejected due to his antecedents and repeated non-appearance. On November 24, the court delivered its order convicting Goud, who continues to be lodged in judicial custody following the verdict.

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)