HYDERABAD: Months after a major loan scandal of Rs 4.75 crore was unearthed at the Sanathnagar branch of State Bank of India (SBI), the case was transferred to the Cyberabad Economic Offences Wing (EOW).
On January 9, the current branch manager, Ramachandra Raghavendra Prasad Paparapatti, lodged a complaint at the Sanathnagar police station against the previous manager for allegedly defrauding the bank.
The accused, Karthikrai, cheated the bank customers through four different methods and diverted their funds to different bank accounts. He allegedly approached customers, who had availed of personal loans from the bank, offering to sanction new loans to them claiming that the previous loans would be closed with the proceeds of the new loans. However, there was no such closure of loans and funds were allegedly diverted to unrelated third-party accounts without intimation to the customers.
In some other instances, Karthikrai allegedly opened overdrafts against bank deposits of customers in the pretext of helping them and then purportedly unauthorisedly transferred the funds to another bank account. The complainant also accused Karthikrai of sanctioning personal loans based on fake salary slips and transferring funds from customers’ accounts to unrelated third-party accounts without their knowledge.
The case was initially registered with the Sanathnagar police under Sections 420, 409, 467, 468, 471 and 477 (A) of the Indian Penal Code on charges of cheating, criminal breach of trust, forgery and falsification of accounts. Based on instructions of the Cyberabad Commissioner of Police (CP) Avinash Mohanty, the case was recently transferred to the EOW for further probe.