HYDERABAD:The suspended office assistant of Telangana Grameena Bank M Jaipal Reddy is the key conspirator in diverting Rs 8.94 crore public money from the bank to other fraudsters by transferring online through NEFT. In the FIR, CBI named ten persons including the retired and currently working employees of TS Grameena Bank. CBI officials, who collected information during the search operation held Wednesday, have taken some of the accused into custody for questioning.
An internal investigation was done by KBS Raju, on deputation from State Bank of India (SBI), Chief Manager of Vigilance, and report was submitted to the TS Grameena Bank on February 5. In the report, the fraud amount involved to Rs 8.94 crore in 133 term deposit accounts and savings bank accounts.
“Jaipal Reddy and other private persons committed fraud by resorting to various modus operandi. The defrauded amounts were transferred online through NEFT to other bank accounts of third parties connected to the fraudster. The accused had committed the fraud due to gross negligence of the branch managers from 2010,’’ the Grameena bank officials told CBI.
Days after CBI officials registered cases on nine persons in connection with the fraud, the agency officials have intensified the probe by questioning suspects and customers in collecting more details. It is learnt that the banks officials have violated the rules and regulations by giving lockers and bank premises keys to the accused Jaipal Reddy instead of to keep safe keys with joint custodians and premises keys with the branch managers.
Jailpal Reddy has indulged in tampering of original face value of Term Deposit Receipts in the system, by omitting ‘0’ and inflated the face value of TDRs, physical TDRs issued under his signature though he is not competent, paid TDRs are regenerated with fraudulent intention and handed over to customers by having unlawful custody of security instruments.