The Directorate of Enforcement (ED) has secured a conviction in a money laundering case linked to bank fraud in the city.
The Nampally court in Hyderabad, on November 24, 2025, found L. Srinivas Goud guilty under the Prevention of Money Laundering Act (PMLA), 2002, and sentenced him to five years of rigorous imprisonment (RI).
A fine of ₹25,000 was also imposed on him and his firm, Mallika Inn Bar and Restaurant.
The case stemmed from a fraudulent loan obtained by Goud, proprietor of Mallika Inn Restaurant & Bar. Investigations revealed that he forged documents and used impersonation to obtain a loan from Federal Bank. An impostor was made to appear as his mother before bank officials, while fabricated title deed documents and forged signatures were used to push the loan through. The loan was obtained as a housing loan and for renovation of the establishment; however, it was diverted for other uses and misappropriated, generating proceeds of crime and causing a loss of ₹44.80 lakh to the bank.
Following the investigation, ED’s Hyderabad Zonal Office filed a prosecution complaint against the accused and his firm. During the trial, multiple witnesses were examined and the department concluded its arguments. However, Goud repeatedly avoided appearing before the court, prompting the issuance of non-bailable warrants on several occasions. Despite several attempts, he could not be traced at his known address, and it was later discovered that he shifted his residence.
Using both electronic and human intelligence, investigators located his new address, which was verified through court records. Surveillance was maintained for a week, and on the early hours of October 27, 2025, he was apprehended and produced before the court. He was remanded to judicial custody and remained in jail as his successive bail applications were rejected owing to his antecedents and risk of absconding.
On November 24, 2025, the Court pronounced the conviction order, confirming his guilt in laundering proceeds of crime. Goud continues to remain in judicial custody following the sentence.
Published – November 25, 2025 07:01 pm IST
