HYDERABAD: The Crime Investigation Department (CID) has arrested five more accused in a bank fraud case, where the accused persons cheated the IDBI Bank authorities to sanction loans of Rs 2.86 crores by violating the bank rules and regulations.
The CID arrested B Vengal Rao, B Jaganatham, Y Haribabu, M Rajashekhar and P Konda Babu, all residents of Bhadradri Kothagudem district, and produced them before the Magistrate for judicial remand. All these arrested were instrumental in preparing the forged documents and seals used for processing the loans.
According to the CID, the police received a complaint from the deputy general manager of the bank stating that Nallagopula Ramesh, Ex-Branch Head of Sattupalli IDBI, colluded with Business Correspondent Chettipogu Suresh and his associates Thati Chandra Rao, Merugu Shiva Krishna, and sanctioned Rs 2.61 crores loans to 279 borrowers under Kisan Credit Card Scheme and also sanctioned Rs 25 lakh to 26 individuals under Micro Loans Scheme in between from March, 2015 to September, 2016.
During the internal audit conducted for FY 2018-19 in respect of KCC Loans, the auditor has found certain procedural lapses and financial transactions between Chettipogu Suresh and the then Branch Head N Ramesh.
The bank has approached revenue authorities and they confirmed that the pattadar passbooks submitted to the bank are fake and not matching with their records. A case was registered and the CID investigated, following which Nallagopula Ramesh and Chettipogu Suresh were arrested by CID and sent to judicial remand earlier.