Fraud Alert: Hyderabad IT Employee Accused of Cheating Company with Fake Contracts
In a major corporate fraud case, the Hyderabad Central Crime Station (CCS) police have registered a case against a senior employee of DigiTele Networks Private Limited, accusing him of creating fake invoices and secretly running shell companies to siphon off company funds.
Hyderabad: In a major corporate fraud case, the Hyderabad Central Crime Station (CCS) police have registered a case against a senior employee of DigiTele Networks Private Limited, accusing him of creating fake invoices and secretly running shell companies to siphon off company funds. The accused, Madan V. Golagabathula, allegedly committed financial fraud amounting to over ₹2.28 crore.
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Accused Misused Authority to Execute Contracts Through Personal Firms
According to the complaint filed by Venkata Thota, a representative of Jubilee Hills-based DigiTele Networks, Madan joined the IT and drone solutions firm in 2014 and held key roles in business development, billing, and project execution.
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Over time, he allegedly manipulated billing processes, misled senior officials, and created shell companies — 9th Pixel Geosoft (OPC) Pvt Ltd and Atree Solutions, the latter owned by his associate Chandra Murali.
₹2 Crore Diverted to 9th Pixel, ₹28 Lakh to Atree Solutions
The complaint details how, between April 2022 and January 2025, 9th Pixel generated ₹2 crore in revenue through fraudulently acquired contracts. Similarly, Atree Solutions raked in ₹28 lakh from September 2023 to June 2024, allegedly by using DigiTele’s resources and falsely posing as company partners.
Madan also induced DigiTele to purchase robotic interface components at inflated prices by generating bogus invoices, in an attempt to personally benefit from internal procurement processes.
Police Register Criminal Case; Investigation Underway
The CCS police, acting on the complaint, have registered a case against Madan and other unnamed individuals under relevant sections of the Indian Penal Code (IPC) for cheating, criminal conspiracy, and breach of trust. A full-fledged investigation has been initiated into the financial misappropriation and corporate fraud.
