Branch Manager, 2 Others Named in Rs 2.26 Crore Fraud

Published: 09th July 2015 10:50 PM  |   Last Updated: 09th July 2015 10:50 PM   |  A+A-


SHIVAMOGGA: State Bank of Mysore has lodged a complaint with police naming its Branch manager and two others here in connection with an alleged fraud amounting Rs 2.26 crore that came to light during an audit.

According to complaint lodged by the bank Assistant General Manager, the branch manager colluding with two account holders has caused a fraud while sanctioning loan. The complainant said, the manager was the "mastermind". He had opened 43 fake accounts for sanctioning loan and has transferred the money in them (accounts). The manager was assisted by his two friends who were the account holders in the same branch.

The scam was noticed by audit staff in the financial transactions of bank's branch during July 2015 audit, it said. Police suspects involvement of more bank staffs in the scam. Police said they visited the bank to question the branch manager, but he was absconding. Efforts were on to trace the other two. Police said they are sure to nab all the three shortly.


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