KOCHI: A former bank manager of the SBI who has been accused of committing a major loan fraud at one of the bank’s branches in the city has found himself in a tight spot after the city police decided to continue the probe against him. The probe is continuing despite the ex-manager reportedly repaying the defrauded amount — Rs 55 lakh — with interest to the bank.
Ramesh V, 45, ex-branch manager of the SBI Ponekkara branch, sought anticipatory bail in connection with the case registered against him at the Cheranalloor police station, the police opposed it saying the investigation was in the initial stages and that he had committed the crime under IPC Section 409.
The local court also dismissed Ramesh’s plea on September 8 saying, “It may be true that the amount disbursed was repaid with interest as said by the accused. However, it does not negate the crime. He was a senior manager of the bank and seems to have misused his position in sanctioning the loans and getting it transferred to his wife’s account.”
The police said they suspect the involvement of more persons in the crime as Ramesh had forged several documents and used ID proofs of 11 people. “Ramesh is currently facing disciplinary action from the bank. We suspect he decided to settle the matter with the bank fearing that the role of more people, including his wife, will be unearthed,” said an officer.
The probe by the police found Ramesh sanctioned 11 loans of Rs 5 lakh each from September 3, 2019, to November 29, 2019, without sufficient security or valid documents. After sanctioning, the total amount of Rs 55 lakh was transferred to his wife’s account.