HYDERABAD: The Central Bureau of Investigation (CBI) on Monday arrested an SBI official rom Medak for allegedly misappropriating funds of about Rs 5.2 crore. A probe was launched after a complaint was filed by Siddipet SBI Bank assistant general manager against a senior associate and cash-in-charge of Narsapur branch in Medak district in connection with embezzlement of cash and gold amounting to Rs 5.2 crore from the bank.
According to CBI, the accused misappropriated cash of Rs 2.32 crore (approx.); gold ornaments valuing Rs 0.72 crore (approx.) which were under his control and also cash amounting to Rs 2.19 crore (approx.) from three ATMs. An alleged loss of Rs 5,22,67,760 was caused to the bank.
Agency sleuths conducted searches at the premises of the accused at Narsapur in Medak district which led to the recovery of incriminating documents. The accused was produced before the Special Judge, CBI Cases, Hyderabad and remanded to judicial custody up to September 17, 2022, the central agency said.