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Bank official arrested for amassing assets worth Rs 11.46 cr

The Central Bureau of Investigation registered a case against a field officer working at Andhra Pradesh Grameena Vikas Bank for possessing disproportionate assets worth `11.46 crore on Saturday.

Published: 03rd June 2018 02:18 AM  |   Last Updated: 03rd June 2018 06:05 AM   |  A+A-

By Express News Service

HYDERABAD: The Central Bureau of Investigation registered a case against a field officer working at Andhra Pradesh Grameena Vikas Bank for possessing disproportionate assets worth `11.46 crore on Saturday.

The accused bagged the money during his tenure at Isnapur branch in Sangareddy, said CBI.
Peddasetty Durga Prasad, during his tenure as Field Officer at the APGVB, created fake housing loan accounts in the names of existing borrowers without their knowledge and subsequently transferred the money to his personal account opened with two private banks.

Based on information, CBI has registered a case against the accused officer. By December 31, 2015, he only had `33,000 in his bank account, which grew to `44.12 lakh in the form of mutual funds and stock markets at various banks by 2017.

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