ADILABAD: The Adilabad district police on Saturday arrested the main accused in the District Cooperative Central Bank (DCCB) Bela branch fraud of Rs 2.85 crore and recovered an amount of Rs 98,15,419 which was sent to various accounts.
District Superintendent of Police D Uday Kumar Reddy said that the accused, P Sripath Kumar, used the money for online betting. The SP said that on March 13, Adilabad DCCB Assistant General Manager Gaddam Srinivas went to Bela police station and lodged a written complaint that ADCC Bank Bela branch had misappropriated Rs 2.85 crore. Police registered a case under various section of IPC and started an investigation.
During the investigation it was found that staff assistant Sripath was addicted to online betting and had created fake accounts in the name of Doktala Primary Agricultural Credit Society (PACS) and Bela PACS societies, without taking the permission of the bank manager and without providing any relevant documents. A total of Rs 2.85 crore was transferred to the bank account of his wife P Himabindu and his relatives through fake loan accounts.
He then transferred money to the accounts of his co-employees including branch managers, Bandi Ramesh, S Praveen, G Praveen, Rahul, M Savita, Praneeth, B Venugopal, Nitin and Ramesh. Sripath was betting online and lost money to Satyadev Technology, Poonam Boutique and other betting agencies.