23 cash management staff suspected to have swindled Rs 1.88 crore

The management of Logicash solutions company lodged a complaint with the CCS police alleging misappropriation of money by its own employees.​
Children demonstrate the benefits of online banking, usage of debit cards and  PayTm on National Mathematics Day at Upperpally on Thursday | Sayantan Ghosh
Children demonstrate the benefits of online banking, usage of debit cards and PayTm on National Mathematics Day at Upperpally on Thursday | Sayantan Ghosh

HYDERABAD: In the case of misappropriation of Rs1.88 crore in currency notes of Rs 2,000 denomination, belonging to State Bank of India, the police have identified role of 23 employees of a cash management company. A case has been registered under sections 408 and 420 of Indian Penal Code on charges of cheating and a probe is on.

On Wednesday, the management of Logicash solutions company lodged a complaint with the Central Crime Station(CCS) police alleging misappropriation of money by its own employees.

The company has an agreement to replenish cash belonging to SBI in its ATMs in some places of the city. After demonetisation, the management found differences in the cash remains during the physical audit, done in the first week of December.

In an internal inquiry, the company management found that its employees have indulged in siphoning off the money that has to be kept in the ATMs. Detective department DCP Avinash Mohanty said that the agency has complained that during their audit, they found deficit of some money and identified that some employees have taken away the cash. Based on their complaint, a case has been booked for probe.
“Though the company managed to get back some of the siphoned cash, the complainant mentioned that the management suspects 23 of its employees, who used to replenish cash in ATMs located in certain routes,” said the DCP.

The complainant also mentioned that the fraud was noticed after demonetisation was announced and when new currency was given to them. A total of Rs 1.8 crore cash of Rs 2,000 denomination notes has been swindled. Investigation is going on to extract facts, said the DCP.

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