BENGALURU: In yet another case of cheating, a complaint has been filed recently with the Anti-Corruption Bureau (ACB) of the Central Bureau of Investigation. An agriculture field officer of a bank and a middleman have been accused of committing fraud to the tune of `4.47 crore. The accused are P Madhusudhan Rao, an Agriculture Field Officer of Corporation Bank, R Harish, both residents of Shivamogga. Both are also involved in a previous case of cheating filed in in 2014. According to the complaint filed by D M Mujumdar, Circle General Manager of Corporation Bank,
P Madhusudan Rao and R Harish had allegedly sanctioned and disbursed agricultural loans to 42 borrowers to the tune of `7.68 crore, out of which an amount of `4.47 crore was remitted by RTGS/NEFT to the accounts of various intermediaries. Rao allegedly used to obtain the signatures of the borrowers on loan documents and loose leaf cheques in advance and also collect land records, while assuring them to sanction the loan later. Later, he would disburse the loan without the knowledge of the borrowers and partly withdraw proceeds by misusing their cheques obtained earlier from the borrowers and remit the proceeds to different parties thereby exposing Corporation Bank to an undue pecuniary loss to the tune of `447.53 lakhs,” the complaint said.
CBI has registered a case under sections 409, 420, 468, 471 and sections of the Prevention of Corruption Act. This is the second case in a week where bank officials have had cases booked against them with the CBI. In a case booked on December 15, K R Saroja, a former branch manager of UCO bank, Jayanagar, was accused of allegedly disbursing loans amounting to more than `22 crore against forged documents.