Bangalore: SBI manager accused of cheating, transferring 1.47 crores to kin’s accounts

The accused is N Raghuram, ex-manager of SBI, Sunkadakatte Branch in Bengaluru. 

Published: 09th November 2018 08:04 AM  |   Last Updated: 09th November 2018 09:18 AM   |  A+A-

Image for cheating.

Express News Service

BENGALURU: In a classic case of fence eating the crop, a manager of a branch of State Bank of India (SBI) in the city allegedly cheated the customers as well as his own bank of Rs 1.47 crore by transferring money to the accounts of his son, wife and other relatives. The accused is N Raghuram, ex-manager of SBI, Sunkadakatte Branch in Bengaluru. 

According to the First Information Report (FIR) registered by Sunkadakatte police in this connection, 48-year-old Raghuram allegedly cheated customers as well as the bank by misusing his power.
In a complaint to Kamakshipalya police, U M Basavaraju, SBI branch manager, Sunkadakatte branch, alleged that Raghuram was working as the manager in the said branch between September 22, 2014 and November 15, 2017. During this period, he allegedly forged records of accounts of the bank and signatures of customers. 

The victims are the bank’s customers — Annapoorna, Basavaraju, K N Harshitha, Rohith, Star Industries, Basavarajappa, K M Chandrashekar, Deepak, Pavithramma, Shobha R, Suresha K M, Aryashankar, Sairam Creations, R Ravichandra Usha, Subramanyam, Durgaiah, Sandhya, Lakshmivenkateshwar, Shivaramaiah, K M Ravi, JR Solutions and Jyothi. 

In the FIR, it was stated that after customers submitted their loan applications, Raghuram would forge their signatures and enhance the loan amount beyond the prescribed limit. He would then sanction loans accordingly. 

The excess amount would be subsequently transferred to his family members’ accounts, while the amount sought as loan by the customers to their respective accounts. He allegedly cheated the bank’s branch  of `1.47 crore.

Based on the complaint by the bank manager, Kamakshipalya police registered an FIR against Raghuram and others on the charges of misappropriation, criminal breach of trust, forgery, dishonesty and cheating. 
Raghuram, who is the first accused, was in judicial custody since October 9.

BAIL GRANTED

Raghuram has approached the 55th Additional City Civil and Sessions Court for bail, claiming that he is innocent. On hearing the bail plea, the court granted bail, imposing conditions that he shall execute a personal bond for a sum of `1 lakh with two sureties and appear before the investigation officer once a week, and that he shall not tamper with the evidence. 

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