Telangana Grameena Bank swindled of Rs 9 crore
Posted February 21st, 2018, 10:22 AM IST
The case was registered, following a complaint by the bank’s regional manager M. Ravinder Reddy. During preliminary investigation, bank officials found that `8.94 crore was misappropriated.
The FIR registered by CBI said the fraud took place between July 2010 and January 2018. It named ten persons – Madi Jaipal Reddy, 34, office assistant; J. Moses, 59, branch manager/accountant; K. Laxmi Narsaiah, 57, branch manager; K. Chandraiah, 59, branch manager, G. Srinivasa Rao, 59, branch manager; E. Rajanna, 59, branch manager; B. Ravikanth, 53, bank officer; V.V.J. Rama Rao, 61, retired bank employee; P. Guru Prasad, 31, accountant, Madi Srinivas Reddy, sweeper, and others.
The CBI received a complaint on February 7 from bank officials about the fraud that came to light last month after an internal audit. They later approached the local police. As the bank officials suspected the fraud would run into crores, they approached the CBI and lodged a complaint.
CBI officials said the fraud took place over a period of about eight years and the main person who hatched the conspiracy was M. Jaipal Reddy, who worked as office assistant at the Aziznagar branch. “During preliminary inquiry, we came to know that the bank employees and eight other persons were involved in the fraud. They adopted various modus operandi to misappropriate the deposits of the public,” said a CBI official.
The employees tampered with face value of term deposit receipts (TDR’s) while doing online entry in the computer system by omitting the digit ‘0’. They also did not enter the transactions in account books, did not have physical issue of TDRs and regenerated old TDRs after accepting the funds.
“The money was transferred to the NEFT to the bank accounts of the third parties connected with the fraud. Jaipal Reddy had successfully committed the fraud because of the gross negligence of the branch manager and non-adherence to the systems and procedures,” CBI officials said.
The CBI invoked Sections 120 B r/w 420, 468, 477A IPC and U/s 13 (1)© and (d) of PC Act 1988.
- Aditi Rao Hydari misses ‘Heeramandi’ event after wedding
- Bigg Boss winner Munawar Faruqui among 14 detained in Mumbai raid
- Mrunal Thakur follows ‘grandma diet,’ believes in not skipping meals
- Selena Gomez shares makeup-free selfies on Instagram
- Diljit collaborates with Saweetie for ‘Khutti’ Song, says ‘she just landed in Punjab’
- Malaika Arora, Arjun Kapoor, Richa, Ali Fazal, Farah, and more at KJo’s Bash
- Janhvi and Aditya Roy Kapur shine on the ramp for Kalki at Lakme Fashion Week x FDCI
- I am fond of Kate Moss, says Diana Penty, about her fashion icon
- Kriti Kharbanda, Pulkit Samrat share pictures from dreamy wedding
- Actor Rajinikanth visits Hyderabad Metro Rail Project, applauds Operations Control Centre
- Mrunal Thakur to speak at UN panel on human cost of conflict-related sexual violence
- Hyderabad: Charminar’s Nimrah Café & Bakery goes 24/7 for Ramadan season
- Ileana D’Cruz drops adorable pictures with partner Michael Dolan
- Hyderabad edging towards drinking water crisis!
- Highest power supply registered in Telangana with 298.19 mu in one day
More News
- Aditi Rao Hydari misses ‘Heeramandi’ event after wedding
- Bigg Boss winner Munawar Faruqui among 14 detained in Mumbai raid
- Mrunal Thakur follows ‘grandma diet,’ believes in not skipping meals
- Selena Gomez shares makeup-free selfies on Instagram
- Diljit collaborates with Saweetie for ‘Khutti’ Song, says ‘she just landed in Punjab’
- Malaika Arora, Arjun Kapoor, Richa, Ali Fazal, Farah, and more at KJo’s Bash
- Jamie Lever is ‘honoured’ to represent her heritage with Telugu debut film
- Janhvi and Aditya Roy Kapur shine on the ramp for Kalki at Lakme Fashion Week x FDCI
- I am fond of Kate Moss, says Diana Penty, about her fashion icon
- Kriti Kharbanda, Pulkit Samrat share pictures from dreamy wedding
A PHP Error was encountered
Severity: Warning
Message: file_get_contents(): http:// wrapper is disabled in the server configuration by allow_url_fopen=0
Filename: views/newsdetails.php
Line Number: 29
Backtrace:
File: /home5/am2pm/public_html/application/views/newsdetails.php
Line: 29
Function: file_get_contents
File: /home5/am2pm/public_html/application/controllers/News.php
Line: 135
Function: view
File: /home5/am2pm/public_html/application/controllers/News.php
Line: 95
Function: newsdetails
File: /home5/am2pm/public_html/index.php
Line: 315
Function: require_once
A PHP Error was encountered
Severity: Warning
Message: file_get_contents(http://www.indiaaffiliates.in/ads.php?size=300X250): failed to open stream: no suitable wrapper could be found
Filename: views/newsdetails.php
Line Number: 29
Backtrace:
File: /home5/am2pm/public_html/application/views/newsdetails.php
Line: 29
Function: file_get_contents
File: /home5/am2pm/public_html/application/controllers/News.php
Line: 135
Function: view
File: /home5/am2pm/public_html/application/controllers/News.php
Line: 95
Function: newsdetails
File: /home5/am2pm/public_html/index.php
Line: 315
Function: require_once